Bank of America Increases Tempus AI (NASDAQ:TEM) Price Target to $70.00

Tempus AI (NASDAQ:TEM) had its target price upped by research analysts at Bank of America from $68.00 to $70.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 2.43% from the stock’s current price.

A number of other research firms also recently weighed in on TEM. Piper Sandler raised their price target on shares of Tempus AI from $55.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Guggenheim restated a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Tempus AI in a research note on Wednesday, May 7th. William Blair restated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Morgan Stanley lifted their price objective on Tempus AI from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.58.

Tempus AI Stock Up 4.4%

TEM stock opened at $68.34 on Wednesday. The company’s 50 day simple moving average is $60.74 and its 200-day simple moving average is $53.15. The firm has a market capitalization of $11.83 billion and a P/E ratio of -8.76. Tempus AI has a 52-week low of $27.68 and a 52-week high of $91.45. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. The business had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. Tempus AI’s revenue for the quarter was up 75.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Tempus AI will post -6.15 EPS for the current year.

Insider Buying and Selling at Tempus AI

In other Tempus AI news, CAO Ryan M. Bartolucci sold 6,073 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $63.23, for a total value of $383,995.79. Following the transaction, the chief accounting officer now owns 47,799 shares of the company’s stock, valued at approximately $3,022,330.77. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Erik Phelps sold 51,317 shares of Tempus AI stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $72.56, for a total transaction of $3,723,561.52. Following the transaction, the executive vice president now directly owns 97,779 shares in the company, valued at $7,094,844.24. The trade was a 34.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,897 shares of company stock worth $41,397,783. Insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On Tempus AI

Several institutional investors and hedge funds have recently modified their holdings of TEM. First Horizon Advisors Inc. boosted its position in shares of Tempus AI by 12.7% during the first quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company’s stock worth $89,000 after buying an additional 208 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after acquiring an additional 278 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of Tempus AI by 100.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company’s stock valued at $39,000 after purchasing an additional 400 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Tempus AI by 10.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,594 shares of the company’s stock valued at $268,000 after acquiring an additional 515 shares during the period. Finally, Cherry Tree Wealth Management LLC acquired a new stake in Tempus AI during the 1st quarter worth approximately $31,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.