Tempus AI (NASDAQ:TEM) Given New $70.00 Price Target at Needham & Company LLC

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

A number of other brokerages have also recently issued reports on TEM. JPMorgan Chase & Co. cut shares of Tempus AI from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $55.00 in a research report on Tuesday. Bank of America upped 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. Wolfe Research began coverage on Tempus AI in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. William Blair cut Tempus AI from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Finally, Loop Capital decreased their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Tempus AI currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.55.

Tempus AI Stock Up 2.2 %

NASDAQ TEM opened at $69.57 on Tuesday. The business has a 50 day moving average price of $50.88 and a 200 day moving average price of $52.03. Tempus AI has a 1-year low of $22.89 and a 1-year 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 announced 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). As a group, analysts anticipate that Tempus AI will post -6.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the transaction, the executive vice president now owns 246,085 shares of the company’s stock, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric P. Lefkofsky sold 84,640 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $80.87, for a total transaction of $6,844,836.80. Following the sale, the chief executive officer now directly owns 4,964,820 shares of the company’s stock, valued at $401,504,993.40. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,583,467 shares of company stock valued at $130,542,311.

Hedge Funds Weigh In On Tempus AI

Large investors have recently modified their holdings of the company. Kovitz Investment Group Partners LLC purchased a new stake in shares of Tempus AI during the 3rd quarter worth about $1,367,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tempus AI during the fourth quarter worth 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 worth $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Tempus AI in the 4th quarter valued at $178,000. Finally, Captrust Financial Advisors acquired a new position in shares of Tempus AI during the 3rd quarter valued at $2,726,000. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

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.