Piper Sandler Cuts Tempus AI (NASDAQ:TEM) Price Target to $55.00

Tempus AI (NASDAQ:TEM) had its target price cut by Piper Sandler from $70.00 to $55.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. TD Cowen reaffirmed a “buy” rating and issued a $74.00 target price (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. JPMorgan Chase & Co. downgraded Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. Finally, Bank of America upped their price objective on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Performance

NASDAQ:TEM opened at $48.86 on Tuesday. 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’s 50-day simple moving average is $53.75 and its 200-day simple moving average is $52.57. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $91.45.

Insider Activity at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 265,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $35.10, for a total value of $9,301,500.00. Following the sale, the insider now directly owns 15,218,365 shares of the company’s stock, valued at approximately $534,164,611.50. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 246,085 shares of the company’s stock, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,844,510 shares of company stock valued at $321,970,407.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TEM. First Horizon Advisors Inc. acquired a new stake in Tempus AI during the 3rd quarter valued at $30,000. Operose Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter worth about $25,000. Farther Finance Advisors LLC acquired a new position in Tempus AI in the 4th quarter valued at about $34,000. Prestige Wealth Management Group LLC raised its holdings in Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after acquiring an additional 965 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in Tempus AI during the fourth quarter worth approximately $49,000. 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.