JPMorgan Chase & Co. Cuts Tempus AI (NASDAQ:TEM) Price Target to $80.00

Tempus AI (NASDAQ:TEM) had its price target reduced by JPMorgan Chase & Co. from $85.00 to $80.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also commented on the stock. BTIG Research boosted their target price on shares of Tempus AI from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. HC Wainwright reduced their price objective on shares of Tempus AI from $98.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Tempus AI in a research report on Wednesday, October 8th. Needham & Company LLC upped their price target on Tempus AI from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Piper Sandler reduced their price objective on Tempus AI from $105.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tempus AI currently has a consensus rating of “Hold” and a consensus target price of $85.36.

Tempus AI Stock Performance

Shares of TEM stock opened at $64.61 on Monday. The company has a current ratio of 3.28, a quick ratio of 3.12 and a debt-to-equity ratio of 2.45. The stock has a 50 day simple moving average of $79.21 and a 200-day simple moving average of $73.72. The company has a market cap of $11.49 billion, a price-to-earnings ratio of -54.29 and a beta of 4.99. Tempus AI has a 12-month low of $31.36 and a 12-month high of $104.32.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. Tempus AI had a negative return on equity of 73.21% and a negative net margin of 18.45%.The firm had revenue of $334.21 million for the quarter, compared to the consensus estimate of $328.89 million. During the same period in the previous year, the business earned ($0.46) earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, equities analysts forecast that Tempus AI will post -6.15 EPS for the current year.

Insider Activity

In related news, EVP Andrew Polovin sold 12,874 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $75.00, for a total transaction of $965,550.00. Following the completion of the transaction, the executive vice president owned 107,590 shares in the company, valued at approximately $8,069,250. The trade was a 10.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric P. Lefkofsky sold 332,500 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $89.11, for a total value of $29,629,075.00. Following the transaction, the chief executive officer directly owned 9,074,532 shares of the company’s stock, valued at approximately $808,631,546.52. This represents a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,097,780 shares of company stock worth $86,054,406 over the last three months. Insiders own 26.27% of the company’s stock.

Institutional Trading of Tempus AI

Several institutional investors and hedge funds have recently made changes to their positions in TEM. Vanguard Group Inc. grew its position in Tempus AI by 6,247.5% during the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company’s stock worth $289,204,000 after purchasing an additional 5,900,668 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Tempus AI by 183.0% during the third quarter. Voloridge Investment Management LLC now owns 1,607,083 shares of the company’s stock worth $129,708,000 after buying an additional 1,039,176 shares during the last quarter. BNP Paribas Financial Markets increased its position in Tempus AI by 312.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,274,549 shares of the company’s stock valued at $102,869,000 after acquiring an additional 965,730 shares during the period. AQR Capital Management LLC purchased a new stake in Tempus AI during the 2nd quarter valued at approximately $54,020,000. Finally, Clear Street Group Inc. acquired a new stake in Tempus AI during the 3rd quarter worth approximately $57,821,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.