Tempus AI (NASDAQ:TEM) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Tempus AI (NASDAQ:TEM) had its price target raised by equities researchers at Needham & Company LLC from $56.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 0.62% from the stock’s previous close.

TEM has been the topic of a number of other reports. Guggenheim began coverage on Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 target price on the stock. TD Cowen restated a “buy” rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and increased their target price for the company from $50.00 to $55.00 in a research note on Tuesday. Loop Capital dropped their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Piper Sandler reiterated a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.55.

Tempus AI Stock Performance

Shares of NASDAQ:TEM opened at $69.57 on Tuesday. The company has a 50 day moving average of $50.88 and a two-hundred day moving average of $52.03. Tempus AI has a 52-week low of $22.89 and a 52-week high of $91.45. 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 (NASDAQ:TEM) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). Sell-side analysts predict that Tempus AI will post -6.15 EPS for the current fiscal year.

Insider Activity at Tempus AI

In related 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 completion of the transaction, the director now owns 27,894 shares in the company, valued at $1,166,248.14. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric P. Lefkofsky sold 476,209 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $49.84, for a total value of $23,734,256.56. Following the completion of the sale, the chief executive officer now directly owns 6,502,643 shares in the company, valued at $324,091,727.12. This represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,583,467 shares of company stock valued at $130,542,311 in the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Tempus AI by 141,400.0% during the third quarter. International Assets Investment Management LLC now owns 70,750 shares of the company’s stock valued at $4,004,000 after buying an additional 70,700 shares during the last quarter. Janney Capital Management LLC acquired a new stake in Tempus AI in the 3rd quarter valued at approximately $385,000. Vestor Capital LLC acquired a new position in Tempus AI during the 3rd quarter worth $153,000. ARK Investment Management LLC grew its stake in shares of Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares in the last quarter. Finally, Sigma Planning Corp acquired a new position in shares of Tempus AI during the third quarter valued at $1,323,000. 24.22% of the stock is owned by institutional investors and hedge funds.

About Tempus AI

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.