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

Tempus AI (NASDAQ:TEM) had its target price increased by Bank of America from $48.00 to $68.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently commented on TEM. TD Cowen reiterated a “buy” rating and issued a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Morgan Stanley lifted their price objective on Tempus AI from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Guggenheim reiterated a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. downgraded Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.42.

Tempus AI Trading Down 2.1%

Shares of TEM stock opened at $62.43 on Tuesday. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The business has a 50-day moving average price of $50.82 and a two-hundred day moving average price of $51.96. Tempus AI has a 12-month low of $22.89 and a 12-month high of $91.45. The firm has a market cap of $10.75 billion and a P/E ratio of -8.00.

Tempus AI (NASDAQ:TEM) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. The company had revenue of $255.74 million during the quarter, compared to analysts’ expectations of $248.13 million. The company’s quarterly revenue was up 75.4% compared to the same quarter last year. Equities analysts anticipate that Tempus AI will post -6.15 EPS for the current fiscal year.

Insider Activity at Tempus AI

In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total transaction of $1,047,200.00. Following the transaction, the chief operating officer now owns 884,460 shares in the company, valued at approximately $46,310,325.60. This represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the transaction, the chief executive officer now owns 4,895,589 shares in the company, valued at $287,615,853.75. This trade represents a 39.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,883,543 shares of company stock worth $222,961,144 in the last 90 days. Company insiders own 27.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TEM. Operose Advisors LLC purchased a new position in shares of Tempus AI during the 4th quarter worth approximately $25,000. Cherry Tree Wealth Management LLC purchased a new stake in shares of Tempus AI in the 1st quarter worth approximately $31,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Tempus AI in the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new stake in shares of Tempus AI in the 4th quarter worth approximately $34,000. Finally, Prestige Wealth Management Group LLC grew its stake in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after buying an additional 965 shares during the last quarter. Hedge funds and other institutional investors 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.