Bank of America Forecasts Strong Price Appreciation for Tempus AI (NASDAQ:TEM) Stock

Tempus AI (NASDAQ:TEM) had its price objective boosted by Bank of America from $48.00 to $68.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 6.68% from the company’s current price.

Several other analysts have also commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Tempus AI in a report on Wednesday, May 7th. Wolfe Research lowered Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Piper Sandler lifted their price target on Tempus AI from $55.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.42.

Tempus AI Stock Down 2.7%

Tempus AI stock opened at $63.74 on Tuesday. The firm has a market cap of $10.98 billion and a price-to-earnings ratio of -8.17. Tempus AI has a 52 week low of $22.89 and a 52 week high of $91.45. The business’s 50-day moving average price is $50.41 and its 200 day moving average price is $51.89. 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 posted its earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. The company had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. The firm’s revenue for the quarter was up 75.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tempus AI will post -6.15 earnings per share for the current year.

Insider Activity at Tempus AI

In related news, EVP Andrew Polovin sold 13,135 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total transaction of $603,947.30. Following the completion of the transaction, the executive vice president now directly owns 154,171 shares of the company’s stock, valued at $7,088,782.58. The trade was a 7.85% 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 3,240,234 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the transaction, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. The trade was a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,971,869 shares of company stock worth $230,107,754. 27.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Operose Advisors LLC acquired a new position in shares of Tempus AI during the 4th quarter worth about $25,000. Cherry Tree Wealth Management LLC acquired a new position in shares of Tempus AI during the 1st quarter worth about $31,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Tempus AI during the 1st quarter worth about $33,000. Farther Finance Advisors LLC acquired a new position in shares of Tempus AI during the 4th quarter worth about $34,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after acquiring an additional 965 shares in the last quarter. 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.