Tempus AI (NASDAQ:TEM) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Tempus AI (NASDAQ:TEM) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat.com reports. They currently have $55.00 target price on the stock, up from their previous target price of $50.00.

A number of other research firms have also issued reports on TEM. Guggenheim assumed coverage on Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. TD Cowen reaffirmed a “buy” rating and issued a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Bank of America upped their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. William Blair downgraded Tempus AI from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.55.

Tempus AI Price Performance

NASDAQ TEM opened at $55.30 on Tuesday. Tempus AI has a one year low of $22.89 and a one year high of $91.45. The company has a 50-day simple moving average of $52.29 and a 200-day simple moving average of $52.27. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insiders Place Their Bets

In other news, CEO Eric P. Lefkofsky sold 3,240,234 shares of Tempus AI stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the transaction, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. This trade represents a 39.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrew Polovin sold 51,504 shares of Tempus AI stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the transaction, the executive vice president now owns 246,085 shares in the company, valued at $10,431,543.15. This represents a 17.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,823,701 shares of company stock worth $320,906,059.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors have recently modified their holdings of the company. Kovitz Investment Group Partners LLC acquired a new position in Tempus AI in the third quarter worth about $1,367,000. China Universal Asset Management Co. Ltd. acquired a new position in Tempus AI during the 4th quarter valued at about $1,091,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after acquiring an additional 1,145,698 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Tempus AI in the 4th quarter worth $178,000. Finally, Captrust Financial Advisors bought a new position in Tempus AI during the third quarter worth about $2,726,000. 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.