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

Equities researchers at Wolfe Research assumed coverage on shares of Tempus AI (NASDAQ:TEM) in a research note issued on Friday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $60.00 price target on the stock. Wolfe Research’s target price indicates a potential upside of 46.34% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on TEM. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Loop Capital raised their price target on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Piper Sandler reaffirmed 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. Finally, Guggenheim began coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Tempus AI Stock Down 2.4 %

Shares of NASDAQ TEM opened at $41.00 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The business has a fifty day moving average price of $52.64. Tempus AI has a 52 week low of $22.89 and a 52 week high of $79.49.

Insider Buying and Selling at Tempus AI

In related news, major shareholder Bradley A. Keywell sold 395,800 shares of the company’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 owns 16,164,449 shares in the company, valued at $694,263,084.55. The trade was a 2.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David R. Epstein sold 620 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the sale, the director now directly owns 27,894 shares in the company, valued at $1,166,248.14. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 650,949 shares of company stock valued at $27,821,944.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors have recently made changes to their positions in TEM. First Horizon Advisors Inc. bought a new position in Tempus AI in the 3rd quarter valued at approximately $30,000. Vestor Capital LLC bought a new position in shares of Tempus AI during the third quarter valued at $153,000. Stifel Financial Corp bought a new position in shares of Tempus AI during the third quarter valued at $218,000. Sandia Investment Management LP purchased a new stake in shares of Tempus AI during the second quarter valued at $136,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Tempus AI in the 3rd quarter worth about $258,000. 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.