Wolfe Research Initiates Coverage on Tempus AI (NASDAQ:TEM)

Wolfe Research assumed coverage on shares of Tempus AI (NASDAQ:TEM) in a report published on Friday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $60.00 target price on the stock.

A number of other equities analysts also recently weighed in on TEM. Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Guggenheim started coverage on Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and issued a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and upped their price target for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Finally, Loop Capital raised their price objective on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Tempus AI presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Tempus AI Trading Down 2.4 %

Shares of TEM stock opened at $41.00 on Friday. The business’s 50-day moving average is $52.64. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. Tempus AI has a 1-year low of $22.89 and a 1-year high of $79.49.

Insider Buying and Selling at Tempus AI

In other news, Director David R. Epstein sold 620 shares of Tempus AI stock in a transaction that occurred on 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 owns 27,894 shares in the company, valued at approximately $1,166,248.14. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This trade represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 650,949 shares of company stock worth $27,821,944 in the last 90 days.

Institutional Trading of Tempus AI

A number of institutional investors and hedge funds have recently modified their holdings of TEM. NEA Management Company LLC grew its position in shares of Tempus AI by 17.8% during the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after buying an additional 813,169 shares during the last quarter. Novo Holdings A S acquired a new position in Tempus AI in the second quarter valued at approximately $142,605,000. Revolution Growth Management Company Inc. bought a new position in shares of Tempus AI during the second quarter valued at approximately $128,133,000. ARK Investment Management LLC raised its position in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the period. Finally, Alphabet Inc. bought a new stake in shares of Tempus AI in the 2nd quarter worth approximately $54,289,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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.