Tempus AI (NASDAQ:TEM) Price Target Raised to $60.00

Tempus AI (NASDAQ:TEM - Free Report) had its price objective upped by Bank of America from $54.00 to $60.00 in a report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

TEM has been the topic of a number of other research reports. Piper Sandler restated 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. JPMorgan Chase & Co. cut Tempus AI from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. TD Cowen reiterated 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. Finally, William Blair restated a "market perform" rating on shares of Tempus AI in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Tempus AI currently has a consensus rating of "Moderate Buy" and an average price target of $61.18.

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Tempus AI Trading Down 7.9 %

Shares of NASDAQ TEM traded down $4.20 during midday trading on Monday, hitting $48.86. 9,666,221 shares of the stock traded hands, compared to its average volume of 4,754,964. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. Tempus AI has a one year low of $22.89 and a one year high of $91.45. The business has a 50 day moving average price of $53.75 and a two-hundred day moving average price of $52.57.

Insiders Place Their Bets

In other Tempus AI news, CEO Eric P. Lefkofsky sold 3,240,234 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the sale, the chief executive officer now owns 4,895,589 shares of the company's stock, valued at $287,615,853.75. This represents a 39.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer A. Doudna sold 1,320 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $90.00, for a total transaction of $118,800.00. Following the transaction, the director now directly owns 36,011 shares in the company, valued at approximately $3,240,990. This represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,823,701 shares of company stock valued at $320,906,059 in the last quarter.

Institutional Trading of Tempus AI

A number of institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in Tempus AI during the 4th quarter valued at $108,000. Voloridge Investment Management LLC purchased a new position in shares of Tempus AI in the fourth quarter valued at about $11,826,000. Two Sigma Advisers LP bought a new position in shares of Tempus AI during the fourth quarter valued at about $625,000. ProShare Advisors LLC purchased a new stake in shares of Tempus AI during the fourth quarter worth about $244,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Tempus AI in the fourth quarter worth about $1,034,000. 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.