Tempus AI (NASDAQ:TEM) Rating Lowered to Hold at Wolfe Research

Tempus AI (NASDAQ:TEM) was downgraded by investment analysts at Wolfe Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $55.00 in a research report on Tuesday. Needham & Company LLC lifted their target price on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research report on Tuesday. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price target (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Finally, Bank of America boosted their price target on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.55.

Tempus AI Trading Down 11.2 %

Shares of TEM opened at $55.30 on Wednesday. The firm’s 50-day simple moving average is $52.29 and its two-hundred day simple moving average is $52.27. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $91.45. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Activity at Tempus AI

In other Tempus AI news, Director Jennifer A. Doudna sold 1,320 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $90.00, for a total transaction of $118,800.00. Following the sale, the director now directly owns 36,011 shares of the company’s stock, valued at $3,240,990. The trade was a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the sale, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. The trade was a 39.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,823,701 shares of company stock valued at $320,906,059.

Institutional Investors Weigh In On Tempus AI

Hedge funds and other institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in shares of Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after acquiring an additional 3,141,487 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in shares of Tempus AI by 166.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. increased its stake in Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after buying an additional 1,950,862 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Tempus AI by 86,947.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after buying an additional 1,651,996 shares during the period. Hedge funds and other institutional investors 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.