Tempus AI (NASDAQ:TEM) Price Target Raised to $54.00 at Bank of America

Tempus AI (NASDAQ:TEM) had its target price boosted by Bank of America from $52.00 to $54.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on TEM. Wolfe Research began coverage on shares of Tempus AI in a research report on Friday. They set an “outperform” rating and a $60.00 price objective for the company. Guggenheim initiated coverage on Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 target price on the stock. Piper Sandler restated a “neutral” rating and issued a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and raised their price objective for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Finally, Loop Capital boosted their price objective on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Tempus AI presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Price Performance

TEM opened at $41.00 on Friday. Tempus AI has a 12-month low of $22.89 and a 12-month high of $79.49. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The business has a 50 day simple moving average of $52.64.

Insider Buying and Selling

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’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 completion of the transaction, the insider now owns 16,164,449 shares in the company, valued at $694,263,084.55. This trade represents a 2.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Andrew Polovin sold 51,504 shares of Tempus AI 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 completion of the sale, the executive vice president now directly owns 246,085 shares in the company, valued at approximately $10,431,543.15. The trade was a 17.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 650,949 shares of company stock valued at $27,821,944.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TEM. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI in the 3rd quarter worth approximately $30,000. Sandia Investment Management LP purchased a new position in Tempus AI during the second quarter worth $136,000. Vestor Capital LLC bought a new position in Tempus AI during the third quarter valued at $153,000. Stifel Financial Corp purchased a new stake in shares of Tempus AI in the third quarter valued at $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Tempus AI during the 3rd quarter worth about $258,000. 24.22% of the stock is 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.