Bank of America Issues Positive Forecast for Tempus AI (NASDAQ:TEM) Stock Price

Tempus AI (NASDAQ:TEM) had its price objective hoisted by analysts at Bank of America from $52.00 to $54.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target would suggest a potential upside of 31.71% from the stock’s current price.

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

Tempus AI Stock Performance

NASDAQ:TEM opened at $41.00 on Friday. 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 has a fifty-two week low of $22.89 and a fifty-two week high of $79.49. The business’s fifty day moving average is $52.64.

Insider Transactions at Tempus AI

In other 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 value of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares of the company’s stock, valued at $10,431,543.15. This represents a 17.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the sale, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 650,949 shares of company stock worth $27,821,944 in the last quarter.

Hedge Funds Weigh In On Tempus AI

Several large investors have recently modified their holdings of TEM. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI during the 3rd quarter worth about $30,000. Geode Capital Management LLC boosted its stake in Tempus AI by 0.4% during the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after buying an additional 539 shares during the period. Vestor Capital LLC purchased a new position in Tempus AI during the third quarter worth about $153,000. The Manufacturers Life Insurance Company increased its position in shares of Tempus AI by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock valued at $1,686,000 after acquiring an additional 2,765 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Tempus AI in the 3rd quarter valued at approximately $218,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

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.