Needham & Company LLC Reiterates "Buy" Rating for Tempus AI (NASDAQ:TEM)

Needham & Company LLC reiterated their buy rating on shares of Tempus AI (NASDAQ:TEM - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $56.00 price target on the stock.

Several other equities analysts have also commented on TEM. Stifel Nicolaus lowered 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 research report on Monday, November 11th. Bank of America raised their price target on shares of Tempus AI from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Guggenheim initiated coverage on Tempus AI in a report on Monday, December 9th. They issued a "buy" rating and a $74.00 price objective for the company. Loop Capital lifted their target price on Tempus AI from $48.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Finally, Wolfe Research started coverage on Tempus AI in a report on Friday, December 13th. They set an "outperform" rating and a $60.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $56.36.

Tempus AI Stock Performance

Shares of NASDAQ TEM traded down $0.51 during mid-day trading on Tuesday, hitting $31.83. The company had a trading volume of 4,016,626 shares, compared to its average volume of 4,069,895. The firm's 50 day simple moving average is $47.94 and its two-hundred day simple moving average is $47.28. 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 12 month low of $22.89 and a 12 month high of $79.49.

Insider Activity at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 187,655 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the transaction, the chief executive officer now owns 9,557,283 shares of the company's stock, valued at approximately $358,780,403.82. This trade represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ryan Fukushima sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total value of $792,200.00. Following the completion of the sale, the chief operating officer now owns 982,442 shares of the company's stock, valued at approximately $38,914,527.62. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 865,041 shares of company stock valued at $35,917,673 over the last ninety days.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently made changes to their positions in the company. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI during the third quarter worth approximately $30,000. FNY Investment Advisers LLC bought a new stake in Tempus AI in the fourth quarter valued at about $67,000. Sandia Investment Management LP bought a new position in Tempus AI during the second quarter worth about $136,000. Vestor Capital LLC bought a new stake in shares of Tempus AI in the 3rd quarter valued at about $153,000. Finally, Stifel Financial Corp acquired a new stake in shares of Tempus AI in the 3rd quarter valued at approximately $218,000. 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.