Piper Sandler Has Lowered Expectations for Tempus AI (NASDAQ:TEM) Stock Price

Tempus AI (NASDAQ:TEM) had its price target decreased by equities research analysts at Piper Sandler from $70.00 to $55.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential upside of 10.60% from the company’s previous close.

A number of other research analysts have also issued reports on TEM. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their target price for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Loop Capital lowered their target price on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered shares of Tempus AI from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Finally, Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

Tempus AI Stock Performance

TEM traded down $1.20 during trading hours on Tuesday, reaching $49.73. 6,940,733 shares of the stock traded hands, compared to its average volume of 4,656,446. 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 current ratio of 2.69 and a quick ratio of 2.55. The firm’s fifty day simple moving average is $53.02 and its two-hundred day simple moving average is $52.55.

Insider Transactions at Tempus AI

In other news, EVP Andrew Polovin sold 51,504 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the transaction, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. The trade was a 17.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total value of $16,999,610.00. Following the sale, the insider now owns 16,164,449 shares of the company’s stock, 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. Insiders sold a total of 5,823,701 shares of company stock valued at $320,906,059 over the last quarter.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently modified their holdings of TEM. ARK Investment Management LLC lifted its position in shares of Tempus AI by 132.1% in 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 period. NEA Management Company LLC grew its position in Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after acquiring an additional 813,169 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in 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 worth $109,352,000 after acquiring an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after acquiring an additional 2,021,394 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after purchasing an additional 1,950,862 shares in the last quarter. Institutional investors and hedge funds 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.