Tempus AI (NASDAQ:TEM) Receives “Buy” Rating from TD Cowen

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating reissued by TD Cowen in a research report issued on Wednesday,Benzinga reports. They presently have a $74.00 price target on the stock. TD Cowen’s price target points to a potential upside of 19.64% from the stock’s current price.

TEM has been the topic of several other research reports. Loop Capital dropped their target price on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wolfe Research started coverage on Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price for the company. Guggenheim started coverage on Tempus AI in a report on Monday, December 9th. They set a “buy” rating and a $74.00 price target on the stock. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and lifted their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Finally, Bank of America increased their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.55.

Tempus AI Stock Performance

NASDAQ:TEM opened at $61.85 on Wednesday. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $79.49. The company has a 50 day simple moving average of $44.20 and a two-hundred day simple moving average of $48.58.

Insider Transactions at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This trade represents a 2.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David R. Epstein sold 620 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total transaction of $25,922.20. Following the completion of the transaction, the director now directly owns 27,894 shares in the company, valued at $1,166,248.14. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,037,702 shares of company stock valued at $89,449,651 over the last ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC raised its stake in Tempus AI by 132.1% in the 4th 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 during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Tempus AI by 166.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares in the last quarter. NEA Management Company LLC boosted its holdings in Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after buying an additional 813,169 shares during the period. Millennium Management LLC purchased a new position in Tempus AI in the 2nd quarter valued at approximately $8,067,000. Finally, Carnegie Investment Counsel bought a new position in shares of Tempus AI in the third quarter worth $7,936,000. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

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.