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

Tempus AI (NASDAQ:TEM - Free Report) had its price target raised by Bank of America from $68.00 to $70.00 in a report released on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other brokerages have also commented on TEM. JPMorgan Chase & Co. lowered Tempus AI from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a research note on Wednesday, May 7th. BTIG Research assumed coverage on Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 price target on the stock. Finally, Guggenheim reissued a "buy" 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.58.

Tempus AI Stock Performance

Shares of NASDAQ:TEM traded down $1.82 during trading on Wednesday, hitting $66.52. 13,659,769 shares of the stock were exchanged, compared to its average volume of 7,240,326. The company's fifty day simple moving average is $61.26 and its 200-day simple moving average is $53.30. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. The company has a market capitalization of $11.52 billion and a price-to-earnings ratio of -8.53. Tempus AI has a 1-year low of $30.77 and a 1-year high of $91.45.

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

Insider Transactions at Tempus AI

In other news, Director Theodore Leonsis sold 205,847 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total transaction of $13,927,608.02. Following the completion of the sale, the director now owns 15,511 shares in the company, valued at $1,049,474.26. The trade was a 92.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric P. Lefkofsky sold 250,000 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $70.07, for a total value of $17,517,500.00. Following the sale, the chief executive officer now owns 9,357,283 shares of the company's stock, valued at approximately $655,664,819.81. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,897 shares of company stock worth $41,397,783 over the last 90 days. 27.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Tempus AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in Tempus AI in the fourth quarter valued at about $216,000. Wells Fargo & Company MN increased its holdings in Tempus AI by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after purchasing an additional 278 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Tempus AI in the first quarter valued at about $535,000. ProShare Advisors LLC bought a new stake in Tempus AI in the fourth quarter valued at about $244,000. Finally, Avanza Fonder AB increased its holdings in Tempus AI by 15.8% in the first quarter. Avanza Fonder AB now owns 41,005 shares of the company's stock valued at $2,047,000 after purchasing an additional 5,591 shares during the last quarter. 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.