Tempus AI (NASDAQ:TEM) Given "Buy" Rating at TD Cowen

TD Cowen restated their buy rating on shares of Tempus AI (NASDAQ:TEM - Free Report) in a research report released on Wednesday morning, MarketBeat reports. They currently have a $74.00 target price on the stock, up from their previous target price of $58.00.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC restated a "buy" rating and set a $56.00 price target on shares of Tempus AI in a report on Tuesday, January 14th. Bank of America boosted their price target on Tempus AI from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Piper Sandler reissued a "neutral" rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Guggenheim assumed coverage on shares of Tempus AI in a report on Monday, December 9th. They set a "buy" rating and a $74.00 price target on the stock. Finally, Stifel Nicolaus lowered shares of Tempus AI from a "buy" rating to a "hold" rating and lifted their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.55.

Tempus AI Stock Down 5.7 %

Shares of NASDAQ:TEM traded down $3.92 during mid-day trading on Wednesday, hitting $65.26. The stock had a trading volume of 16,164,460 shares, compared to its average volume of 11,521,821. The company's 50 day moving average is $44.32 and its 200-day moving average is $48.73. Tempus AI has a 12-month low of $22.89 and a 12-month high of $79.49. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insider Buying and Selling

In other news, Director David R. Epstein sold 620 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total transaction of $25,922.20. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the transaction, the insider now directly owns 16,164,449 shares of the company's stock, valued at $694,263,084.55. The trade was a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,038,072 shares of company stock valued at $89,469,375.

Institutional Trading of Tempus AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its position in shares of Tempus AI by 132.1% during the 4th 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. NEA Management Company LLC increased its holdings in shares of Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company's stock worth $304,846,000 after buying an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after acquiring an additional 2,021,394 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Tempus AI by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 811,311 shares of the company's stock worth $45,920,000 after acquiring an additional 8,387 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Tempus AI during the 2nd quarter worth approximately $8,067,000. 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.