Tempus AI (NASDAQ:TEM) Price Target Raised to $60.00

Tempus AI (NASDAQ:TEM) had its target price hoisted by investment analysts at Morgan Stanley from $50.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 13.08% from the stock’s previous close.

TEM has been the topic of a number of other reports. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and lifted their target price for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. TD Cowen restated a “buy” rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Guggenheim restated a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Bank of America increased their price target on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and six 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 an average target price of $61.18.

Tempus AI Stock Performance

Shares of Tempus AI stock opened at $53.06 on Thursday. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $91.45. 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 business has a fifty day simple moving average of $53.38 and a 200-day simple moving average of $52.56.

Insiders Place Their Bets

In other news, major shareholder Bradley A. Keywell sold 265,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $35.10, for a total value of $9,301,500.00. Following the completion of the sale, the insider now directly owns 15,218,365 shares of the company’s stock, valued at $534,164,611.50. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrew Polovin sold 51,504 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total value of $2,183,254.56. Following the transaction, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. The trade was a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,823,701 shares of company stock valued at $320,906,059 in the last three months.

Hedge Funds Weigh In On Tempus AI

Institutional investors and hedge funds have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC acquired a new position in shares of Tempus AI in the third quarter valued at approximately $1,367,000. China Universal Asset Management Co. Ltd. bought a new stake in Tempus AI during the fourth quarter worth about $1,091,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after buying an additional 1,145,698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Tempus AI during the fourth quarter valued at approximately $178,000. Finally, Captrust Financial Advisors bought a new stake in shares of Tempus AI during the 3rd quarter worth $2,726,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.