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

Tempus AI (NASDAQ:TEM - Get Free Report) had its price target hoisted by analysts at Bank of America from $68.00 to $70.00 in a research note issued to 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 4.24% from the company's previous close.

Several other brokerages have also weighed in on TEM. BTIG Research began coverage on Tempus AI in a report on Monday, April 21st. They set a "buy" rating and a $60.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Tempus AI in a report on Wednesday, May 7th. Piper Sandler raised their target price on Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. cut shares of Tempus AI from an "overweight" rating to a "neutral" rating and raised their target price for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. Finally, William Blair reissued a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.58.

Tempus AI Price Performance

TEM stock traded down $1.13 on Wednesday, reaching $67.15. The company had a trading volume of 3,035,795 shares, compared to its average volume of 13,243,907. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. Tempus AI has a 1 year low of $23.05 and a 1 year high of $91.45. The company's fifty day moving average is $59.69 and its 200 day moving average is $52.92. The company has a market cap of $11.63 billion and a P/E ratio of -8.59.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.03. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The company had revenue of $255.74 million during the quarter, compared to the consensus estimate of $248.13 million. The business's quarterly revenue was up 75.4% on a year-over-year basis. On average, research analysts forecast that Tempus AI will post -6.15 earnings per share for the current year.

Insider Activity at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 17,552 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $63.43, for a total value of $1,113,323.36. Following the transaction, the executive vice president now owns 138,877 shares of the company's stock, valued at approximately $8,808,968.11. This represents a 11.22% 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, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the transaction, the chief executive officer now directly owns 9,357,283 shares in the company, valued at $655,664,819.81. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,897 shares of company stock valued at $41,397,783 over the last quarter. 27.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC raised its stake in shares of Tempus AI by 35.9% during the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock worth $361,867,000 after purchasing an additional 1,981,755 shares in the last quarter. Vanguard Group Inc. increased its position in Tempus AI by 6,247.5% during the first quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock worth $289,204,000 after buying an additional 5,900,668 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in Tempus AI by 31.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock valued at $205,401,000 after buying an additional 1,021,460 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Tempus AI by 31.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock valued at $205,284,000 after buying an additional 1,016,384 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after acquiring an additional 1,950,862 shares during the period. Institutional investors and hedge funds 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.

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