Tempus AI (NASDAQ:TEM) Cut to Neutral at Bank of America

by · The Cerbat Gem

Bank of America downgraded shares of Tempus AI (NASDAQ:TEM – Free Report) from a buy rating to a neutral rating in a research report released on Wednesday morning, Marketbeat reports. The firm currently has $60.00 price objective on the stock, up from their prior price objective of $45.00.

A number of other brokerages have also weighed in on TEM. Needham & Company LLC reissued a buy rating and set a $47.00 price target on shares of Tempus AI in a research note on Wednesday, August 7th. Piper Sandler started coverage on Tempus AI in a research report on Monday, August 12th. They set a neutral rating and a $40.00 target price on the stock. Morgan Stanley began coverage on Tempus AI in a report on Tuesday, July 9th. They issued an overweight rating and a $44.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Tempus AI from $42.00 to $47.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Finally, Loop Capital initiated coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They issued a buy rating and a $48.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $47.67.

Get Our Latest Stock Analysis on Tempus AI

Tempus AI Trading Up 8.1 %

Tempus AI stock opened at $52.94 on Wednesday. The stock’s 50-day moving average is $50.59. Tempus AI has a 52 week low of $22.89 and a 52 week high of $77.00. The company has a debt-to-equity ratio of 4.50, a current ratio of 3.70 and a quick ratio of 3.52.

Tempus AI (NASDAQ:TEM – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($6.77) EPS for the quarter, missing analysts’ consensus estimates of ($4.41) by ($2.36). The firm had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.10 million. As a group, equities research analysts expect that Tempus AI will post -6.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sandia Investment Management LP purchased a new stake in Tempus AI during the 2nd quarter worth $136,000. Northwestern University acquired a new stake in shares of Tempus AI in the second quarter valued at about $491,000. Squarepoint Ops LLC purchased a new stake in shares of Tempus AI during the 2nd quarter valued at about $633,000. WINTON GROUP Ltd acquired a new position in Tempus AI during the 2nd quarter worth approximately $634,000. Finally, Scientech Research LLC acquired a new position in Tempus AI during the 2nd quarter worth approximately $756,000.

About Tempus AI

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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.

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