Tempus AI (NASDAQ:TEM - Get Free Report) had its price target hoisted by equities researchers at Morgan Stanley from $50.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 22.20% from the company's current price.
A number of other brokerages have also recently weighed in on TEM. Wolfe Research cut Tempus AI from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Bank of America lifted their price objective on Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Piper Sandler dropped their price objective on Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Finally, TD Cowen reiterated a "buy" rating and issued a $74.00 target price (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Tempus AI currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.
Read Our Latest Stock Report on Tempus AI
Tempus AI Trading Up 0.5 %
Shares of NASDAQ TEM traded up $0.24 during trading on Thursday, reaching $49.10. The stock had a trading volume of 9,329,504 shares, compared to its average volume of 4,780,820. Tempus AI has a fifty-two week low of $22.89 and a fifty-two 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. The business's 50-day moving average price is $54.02 and its 200-day moving average price is $52.54.
Insiders Place Their Bets
In other news, CEO Eric P. Lefkofsky sold 562,345 shares of Tempus AI stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $50.93, for a total transaction of $28,640,230.85. Following the sale, the chief executive officer now owns 9,457,283 shares in the company, valued at approximately $481,659,423.19. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Polovin sold 51,504 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total value of $2,183,254.56. Following the sale, the executive vice president now owns 246,085 shares in the company, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,406,855 shares of company stock valued at $350,610,637 in the last ninety days.
Institutional Trading of Tempus AI
A number of hedge funds and other institutional investors have recently made changes to their positions in TEM. ARK Investment Management LLC increased its position in shares of Tempus AI by 132.1% during the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock worth $186,343,000 after purchasing an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Franklin Resources Inc. increased its position in Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock valued at $93,251,000 after acquiring an additional 1,950,862 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Tempus AI by 86,947.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock valued at $55,836,000 after acquiring an additional 1,651,996 shares during the period. Institutional investors and hedge funds own 24.22% of the company's stock.
About Tempus AI
(
Get Free Report)
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.
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