Needham & Company LLC reissued their buy rating on shares of Tempus AI (NASDAQ:TEM - Free Report) in a research report released on Thursday,Benzinga reports. Needham & Company LLC currently has a $70.00 price target on the stock.
A number of other research analysts also recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Tempus AI from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Wolfe Research lowered Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Piper Sandler decreased their price target on Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Guggenheim restated a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered shares of Tempus AI from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tempus AI presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.
Get Our Latest Stock Analysis on Tempus AI
Tempus AI Stock Performance
Tempus AI stock traded down $0.11 during trading hours on Thursday, hitting $42.01. The stock had a trading volume of 5,660,497 shares, compared to its average volume of 5,513,717. The business's 50 day simple moving average is $56.19 and its 200-day simple moving average is $50.91. Tempus AI has a one year low of $22.89 and a one year high of $91.45. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.
Insiders Place Their Bets
In related news, EVP Andrew Polovin sold 13,135 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total value of $603,947.30. Following the sale, the executive vice president now owns 154,171 shares in the company, valued at approximately $7,088,782.58. This trade represents a 7.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 3,000 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $45.54, for a total value of $136,620.00. Following the completion of the transaction, the director now owns 26,514 shares in the company, valued at $1,207,447.56. This represents a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,581,969 shares of company stock worth $316,538,582 over the last 90 days.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new position in Tempus AI in the 4th quarter worth approximately $216,000. China Universal Asset Management Co. Ltd. bought a new position in Tempus AI in the fourth quarter valued at $1,091,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Tempus AI during the fourth quarter valued at about $178,000. abrdn plc bought a new stake in Tempus AI in the 4th quarter worth approximately $2,784,000. Finally, Dakota Wealth Management boosted its stake in Tempus AI by 189.7% in the fourth quarter. Dakota Wealth Management now owns 60,668 shares of the company's stock worth $2,048,000 after buying an additional 39,724 shares in the last quarter. 24.22% of the stock is currently owned by institutional investors.
Tempus AI Company Profile
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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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