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

Tempus AI, Inc. (NASDAQ:TEM) shares rose 12.7% during mid-day trading 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.

Several other equities analysts have also issued reports on the company. Bank of America lifted their target price on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. William Blair downgraded Tempus AI from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Guggenheim assumed coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price target for the company. Loop Capital lowered their price target on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. downgraded Tempus AI from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $50.00 to $55.00 in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.55.

Insider Buying and Selling

In related news, CFO James William Rogers sold 31,780 shares of Tempus AI stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $82.33, for a total transaction of $2,616,447.40. Following the completion of the sale, the chief financial officer now owns 189,320 shares of the company’s stock, valued at $15,586,715.60. The trade was a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Erik Phelps sold 61,582 shares of Tempus AI stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $82.36, for a total value of $5,071,893.52. Following the sale, the executive vice president now directly owns 153,080 shares of the company’s stock, valued at $12,607,668.80. This trade represents a 28.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,583,467 shares of company stock valued at $130,542,311 over the last quarter.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC acquired a new position in Tempus AI in the third quarter valued at approximately $1,367,000. China Universal Asset Management Co. Ltd. acquired a new position in Tempus AI in the fourth quarter valued at approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. increased its position 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Tempus AI in the fourth quarter valued at approximately $178,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Tempus AI in the third quarter valued at approximately $2,726,000. 24.22% of the stock is owned by institutional investors and hedge funds.

Tempus AI Price Performance

The stock has a 50-day moving average price of $51.84 and a 200 day moving average price of $52.24. 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 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.