Mizuho Initiates Coverage on Tempus AI (NASDAQ:TEM)

Mizuho assumed coverage on shares of Tempus AI (NASDAQ:TEM) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $100.00 price target on the stock. Mizuho’s price target would suggest a potential upside of 66.78% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley increased their target price on shares of Tempus AI from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. HC Wainwright decreased their target price on shares of Tempus AI from $98.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Robert W. Baird began coverage on Tempus AI in a research note on Tuesday. They issued an “outperform” rating and a $59.00 price target for the company. Canaccord Genuity Group reduced their price objective on Tempus AI from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Finally, BTIG Research increased their target price on Tempus AI from $96.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tempus AI has an average rating of “Hold” and an average target price of $85.92.

Tempus AI Price Performance

Shares of TEM stock opened at $59.96 on Thursday. The business has a fifty day simple moving average of $62.60 and a 200 day simple moving average of $73.38. The company has a market cap of $10.67 billion, a P/E ratio of -50.39 and a beta of 5.22. The company has a quick ratio of 3.12, a current ratio of 3.28 and a debt-to-equity ratio of 2.45. Tempus AI has a twelve month low of $36.22 and a twelve month high of $104.32.

Insider Buying and Selling

In other news, CFO James William Rogers sold 19,966 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $73.20, for a total transaction of $1,461,511.20. Following the completion of the transaction, the chief financial officer directly owned 111,250 shares in the company, valued at $8,143,500. This trade represents a 15.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer A. Doudna sold 676 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $75.55, for a total value of $51,071.80. Following the completion of the sale, the director owned 23,952 shares in the company, valued at $1,809,573.60. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 544,188 shares of company stock valued at $37,163,496. Corporate insiders own 26.27% of the company’s stock.

Institutional Investors Weigh In On Tempus AI

Large investors have recently modified their holdings of the company. Renaissance Capital LLC grew its stake in shares of Tempus AI by 26.9% in the 3rd quarter. Renaissance Capital LLC now owns 84,166 shares of the company’s stock worth $6,793,000 after acquiring an additional 17,866 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Tempus AI by 1,459.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 101,276 shares of the company’s stock worth $8,174,000 after purchasing an additional 94,783 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Tempus AI during the third quarter worth about $1,695,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Tempus AI by 66.8% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 190,828 shares of the company’s stock worth $15,402,000 after purchasing an additional 76,455 shares in the last quarter. Finally, Pier 88 Investment Partners LLC purchased a new stake in Tempus AI in the 2nd quarter valued at about $286,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

About Tempus AI

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company’s core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.