Tempus AI (NASDAQ:TEM) Stock Price Up 12.7% Following Analyst Upgrade

Tempus AI, Inc. (NASDAQ:TEM) shares rose 12.7% on Wednesday after Needham & Company LLC raised their price target on the stock from $56.00 to $70.00. Needham & Company LLC currently has a buy rating on the stock. Tempus AI traded as high as $65.03 and last traded at $66.61. Approximately 7,718,975 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 14,686,510 shares. The stock had previously closed at $59.10.

A number of other equities analysts have also recently issued reports on TEM. Wolfe Research began coverage on shares of Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective on the stock. Guggenheim started coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. William Blair lowered Tempus AI from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and raised their target price for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price target (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Tempus AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.55.

Insider Buying and Selling

In other Tempus AI news, Director David R. Epstein sold 620 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the completion of the sale, the director now owns 27,894 shares in the company, valued at approximately $1,166,248.14. The trade was a 2.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the completion of the transaction, the insider now directly owns 15,218,365 shares in the company, valued at $534,164,611.50. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,583,467 shares of company stock valued at $130,542,311 over the last ninety days.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in Tempus AI during the 4th quarter valued at about $108,000. Voloridge Investment Management LLC purchased a new position in shares of Tempus AI during the fourth quarter valued at approximately $11,826,000. Two Sigma Advisers LP bought a new stake in Tempus AI during the fourth quarter worth $625,000. ProShare Advisors LLC bought a new stake in Tempus AI during the fourth quarter worth $244,000. Finally, Lazard Asset Management LLC purchased a new stake in Tempus AI in the 4th quarter valued at $1,034,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Trading Up 10.6 %

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The firm has a 50 day simple moving average of $51.28 and a two-hundred day simple moving average of $52.17.

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.