Morgan Stanley Increases Tempus AI (NASDAQ:TEM) Price Target to $65.00

Tempus AI (NASDAQ:TEM) had its target price increased by analysts at Morgan Stanley from $60.00 to $65.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 5.97% from the stock’s current price.

TEM has been the topic of several other research reports. Loop Capital reduced their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wolfe Research cut shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. BTIG Research initiated coverage on Tempus AI in a research note on Monday, April 21st. They set a “buy” rating and a $60.00 target price for the company. Finally, TD Cowen reaffirmed a “buy” rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Tempus AI Stock Performance

NASDAQ:TEM opened at $61.34 on Friday. The stock has a market capitalization of $10.56 billion and a P/E ratio of -7.86. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $91.45. The company has a 50 day moving average price of $48.39 and a 200 day moving average price of $51.01.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. The firm had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The firm’s revenue was up 75.4% compared to the same quarter last year. Equities research analysts forecast that Tempus AI will post -6.15 EPS for the current year.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 3,000 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $45.54, for a total value of $136,620.00. Following the completion of the sale, the director now owns 26,514 shares in the company, valued at $1,207,447.56. This represents a 10.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew Polovin sold 13,135 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total transaction of $603,947.30. Following the sale, the executive vice president now owns 154,171 shares of the company’s stock, valued at approximately $7,088,782.58. This represents a 7.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,237,561 shares of company stock worth $251,210,331 in the last ninety days. 27.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Tempus AI by 6,247.5% in the first quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company’s stock valued at $289,204,000 after purchasing an additional 5,900,668 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after acquiring an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after acquiring an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after purchasing an additional 1,950,862 shares during the period. Hedge funds and other 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.