Tempus AI (NASDAQ:TEM) Given New $70.00 Price Target at Needham & Company LLC

Tempus AI (NASDAQ:TEM) had its price objective hoisted by Needham & Company LLC from $56.00 to $70.00 in a research report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

TEM has been the subject of a number of other research reports. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and upped their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. William Blair downgraded shares of Tempus AI from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Guggenheim initiated coverage on Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and issued a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Finally, Wolfe Research assumed coverage on Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.55.

Tempus AI Stock Down 11.2 %

Tempus AI stock opened at $55.30 on Tuesday. The stock has a fifty day moving average price of $52.29 and a 200 day moving average price of $52.27. Tempus AI has a 52 week low of $22.89 and a 52 week high of $91.45. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Transactions at Tempus AI

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the transaction, the insider now owns 16,164,449 shares in the company, valued at $694,263,084.55. The trade was a 2.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David R. Epstein sold 620 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total value of $25,922.20. Following the completion of the transaction, the director now directly owns 27,894 shares in the company, valued at approximately $1,166,248.14. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,823,701 shares of company stock valued at $320,906,059 over the last quarter.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently modified their holdings of TEM. International Assets Investment Management LLC grew its stake in Tempus AI by 141,400.0% in the third quarter. International Assets Investment Management LLC now owns 70,750 shares of the company’s stock worth $4,004,000 after purchasing an additional 70,700 shares in the last quarter. Janney Capital Management LLC bought a new position in Tempus AI during the third quarter worth $385,000. Vestor Capital LLC acquired a new stake in shares of Tempus AI during the third quarter worth $153,000. ARK Investment Management LLC lifted its position in shares of Tempus AI by 355.0% in the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after buying an additional 1,855,459 shares during the last quarter. Finally, Sigma Planning Corp bought a new position in shares of Tempus AI in the 3rd quarter worth about $1,323,000. Institutional investors own 24.22% of the company’s stock.

About Tempus AI

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.