Bank of America Increases Tempus AI (NASDAQ:TEM) Price Target to $54.00

Tempus AI (NASDAQ:TEM - Free Report) had its price target hoisted by Bank of America from $52.00 to $54.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on TEM. Stifel Nicolaus downgraded shares of Tempus AI from a "buy" rating to a "hold" rating and upped their price target for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Guggenheim initiated coverage on Tempus AI in a research note on Monday, December 9th. They set a "buy" rating and a $74.00 target price for the company. Wolfe Research initiated coverage on Tempus AI in a research note on Friday. They issued an "outperform" rating and a $60.00 price target on the stock. Loop Capital boosted their price target on Tempus AI from $48.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.00.

Tempus AI Trading Down 2.4 %

TEM traded down $0.99 on Friday, hitting $41.00. 5,058,569 shares of the stock were exchanged, compared to its average volume of 1,427,998. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. Tempus AI has a 12 month low of $22.89 and a 12 month high of $79.49. The company has a 50-day moving average of $52.64.

Insider Activity

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the sale, the insider now directly owns 16,164,449 shares in the company, valued at $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the transaction, the executive vice president now owns 246,085 shares in the company, valued at approximately $10,431,543.15. The trade was a 17.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 650,949 shares of company stock valued at $27,821,944 over the last quarter.

Hedge Funds Weigh In On Tempus AI

Several institutional investors have recently added to or reduced their stakes in the business. EFG Asset Management North America Corp. acquired a new stake in shares of Tempus AI in the 2nd quarter valued at about $1,333,000. ARK Investment Management LLC bought a new stake in shares of Tempus AI during the second quarter valued at approximately $18,294,000. Northwestern University acquired a new position in shares of Tempus AI during the second quarter worth approximately $491,000. Alphabet Inc. bought a new position in shares of Tempus AI in the 2nd quarter worth $54,289,000. Finally, Pier Capital LLC bought a new position in shares of Tempus AI in the 2nd quarter worth $2,301,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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.