Needham & Company LLC Reaffirms Buy Rating for Tempus AI (NASDAQ:TEM)

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $56.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 73.16% from the company’s current price.

Other analysts have also issued research reports about the stock. Guggenheim began coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. Wolfe Research initiated coverage on shares of Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Loop Capital increased their price objective on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and lifted their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Tempus AI has a consensus rating of “Moderate Buy” and a consensus target price of $56.82.

Tempus AI Trading Down 13.8 %

Shares of NASDAQ:TEM opened at $32.34 on Tuesday. Tempus AI has a 52-week low of $22.89 and a 52-week high of $79.49. The business’s 50 day simple moving average is $48.28 and its two-hundred day simple moving average is $47.27. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Activity

In other news, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the transaction, the executive vice president now owns 246,085 shares in the company, valued at approximately $10,431,543.15. This represents a 17.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total value of $16,999,610.00. Following the completion of the sale, the insider now directly owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 865,041 shares of company stock valued at $35,917,673 in the last ninety days.

Hedge Funds Weigh In On Tempus AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd purchased a new stake in shares of Tempus AI during the 2nd quarter valued at approximately $634,000. Massachusetts Financial Services Co. MA bought a new stake in Tempus AI during the 2nd quarter valued at $28,246,000. Lingotto Investment Management LLP purchased a new stake in shares of Tempus AI during the second quarter worth $32,685,000. Davidson Kempner Capital Management LP bought a new position in shares of Tempus AI in the second quarter worth $2,271,000. Finally, Marshall Wace LLP purchased a new position in shares of Tempus AI in the second quarter valued at $4,861,000. Institutional investors own 24.22% of the company’s stock.

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.