Tempus AI (NASDAQ:TEM) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Tempus AI (NASDAQ:TEM) in a research note issued to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a $56.00 price target on the stock.

Several other analysts have also recently weighed in on TEM. Loop Capital lifted their price target on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Piper Sandler reissued a “neutral” rating and set a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Guggenheim started coverage on shares of Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.36.

Tempus AI Price Performance

Tempus AI stock opened at $31.83 on Tuesday. The company’s 50-day moving average price is $47.94 and its two-hundred day moving average price is $47.28. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. Tempus AI has a twelve month low of $22.89 and a twelve month high of $79.49.

Insider Activity

In related news, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the sale, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at approximately $358,780,403.82. The trade was a 1.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the company’s stock in a transaction that occurred on 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 owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,041 shares of company stock worth $35,917,673.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. NEA Management Company LLC increased its holdings in Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after purchasing an additional 813,169 shares in the last quarter. Novo Holdings A S bought a new stake in shares of Tempus AI during the second quarter worth about $142,605,000. ARK Investment Management LLC grew its holdings in shares of Tempus AI by 355.0% during 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after buying an additional 1,145,698 shares during the period. Finally, Lingotto Investment Management LLP bought a new position in Tempus AI in the 2nd quarter valued at approximately $32,685,000. 24.22% of the stock is currently owned by institutional investors.

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.