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

Wolfe Research cut shares of Tempus AI (NASDAQ:TEM) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Several other research firms have also issued reports on TEM. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $50.00 to $55.00 in a research note on Tuesday. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a report on Tuesday. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a report on Tuesday. TD Cowen reissued a “buy” rating and set a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Finally, Loop Capital cut their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Tempus AI currently has an average rating of “Moderate Buy” and an average target price of $60.55.

Tempus AI Stock Performance

NASDAQ:TEM opened at $55.30 on Wednesday. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The stock’s 50 day moving average price is $52.29 and its two-hundred day moving average price is $52.27. Tempus AI has a 12-month low of $22.89 and a 12-month high of $91.45.

Insider Activity at Tempus AI

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the transaction, the insider now owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. The trade was a 2.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer A. Doudna sold 1,320 shares of Tempus AI stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $90.00, for a total value of $118,800.00. Following the transaction, the director now owns 36,011 shares of the company’s stock, valued at $3,240,990. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,823,701 shares of company stock valued at $320,906,059 in the last three months.

Hedge Funds Weigh In On Tempus AI

Hedge funds and other institutional investors have recently modified their holdings of the business. Operose Advisors LLC purchased a new position in shares of Tempus AI in the 4th quarter worth approximately $25,000. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC purchased a new position in shares of Tempus AI in the 4th quarter worth approximately $34,000. Prestige Wealth Management Group LLC boosted its stake in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after buying an additional 965 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Tempus AI in the 4th quarter worth approximately $49,000. 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.