Tempus AI (NASDAQ:TEM) Downgraded to Hold Rating by Wolfe Research

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

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

Tempus AI Price Performance

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

Insider Buying and Selling

In other news, Director David R. Epstein sold 620 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total value of $25,922.20. Following the completion of the transaction, the director now directly owns 27,894 shares in the company, valued at approximately $1,166,248.14. This represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the transaction, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,823,701 shares of company stock worth $320,906,059.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC raised its stake in shares of Tempus AI by 132.1% during the fourth 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings 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 purchasing an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Tempus AI by 166.0% in the 4th 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 period. Franklin Resources Inc. lifted its stake in Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after purchasing an additional 1,950,862 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after purchasing an additional 1,651,996 shares during the last quarter. Hedge funds and other 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.