Tempus AI (NASDAQ:TEM) Stock Price Expected to Rise, Bank of America Analyst Says

Tempus AI (NASDAQ:TEM) had its price objective raised by equities research analysts at Bank of America from $48.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 16.96% from the company’s current price.

TEM has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of Tempus AI in a research note on Wednesday, May 7th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. TD Cowen restated a “buy” rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. William Blair reiterated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.42.

Tempus AI Price Performance

TEM opened at $58.14 on Tuesday. Tempus AI has a 12-month low of $22.89 and a 12-month high of $91.45. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The firm has a market capitalization of $10.01 billion and a P/E ratio of -7.45. The stock has a fifty day moving average of $51.04 and a 200-day moving average of $52.00.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. The business had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The business’s revenue for the quarter was up 75.4% on a year-over-year basis. Equities analysts forecast that Tempus AI will post -6.15 EPS for the current fiscal year.

Insider Transactions at Tempus AI

In other news, Director Wayne A.I. Frederick sold 3,000 shares of Tempus AI stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $45.54, for a total transaction of $136,620.00. Following the completion of the sale, the director now directly owns 26,514 shares in the company, valued at approximately $1,207,447.56. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ryan Fukushima sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.15, for a total value of $1,023,000.00. Following the transaction, the chief operating officer now directly owns 924,460 shares of the company’s stock, valued at $47,286,129. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,883,543 shares of company stock worth $222,961,144. Insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its position in shares of Tempus AI by 35.9% in the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company’s stock worth $361,867,000 after acquiring an additional 1,981,755 shares in the last quarter. Vanguard Group Inc. boosted its stake in Tempus AI by 6,247.5% in the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company’s stock worth $289,204,000 after purchasing an additional 5,900,668 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in shares of Tempus AI by 31.5% during the first quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company’s stock worth $205,401,000 after purchasing an additional 1,021,460 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company’s stock valued at $205,284,000 after buying an additional 1,016,384 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after buying an additional 1,950,862 shares during the last quarter. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Company Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.