Tempus AI (NASDAQ:TEM) Stock Price Down 2.4% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s share price dropped 2.4% on Wednesday . The stock traded as low as $44.67 and last traded at $44.47. Approximately 5,568,145 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 4,839,058 shares. The stock had previously closed at $45.58.

Wall Street Analyst Weigh In

Several research firms have issued reports on TEM. William Blair reissued a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Loop Capital cut their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Needham & Company LLC upped their target price on shares of Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Piper Sandler lowered their target price on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, TD Cowen reissued a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Stock Performance

The firm has a 50 day moving average price of $54.76 and a 200-day moving average price of $52.03. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insider Buying and Selling at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 562,345 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $50.93, for a total value of $28,640,230.85. Following the transaction, the chief executive officer now owns 9,457,283 shares of the company’s stock, valued at $481,659,423.19. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Ryan M. Bartolucci sold 13,770 shares of Tempus AI stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $60.00, for a total value of $826,200.00. Following the sale, the chief accounting officer now directly owns 57,237 shares of the company’s stock, valued at $3,434,220. This trade represents a 19.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,755,906 shares of company stock valued at $322,788,693 in the last quarter.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently made changes to their positions in TEM. Operose Advisors LLC acquired a new position in Tempus AI in the fourth quarter valued at approximately $25,000. First Horizon Advisors Inc. purchased a new stake in shares of Tempus AI during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC acquired a new position in shares of Tempus AI in the 4th quarter valued at $34,000. Prestige Wealth Management Group LLC grew its position in shares of 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 buying an additional 965 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Tempus AI during the 4th quarter worth $49,000. Institutional investors and hedge funds 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.