Tempus AI (NASDAQ:TEM) Trading Down 9.5% – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) were down 9.5% on Tuesday . The company traded as low as $45.25 and last traded at $45.15. Approximately 4,582,990 shares traded hands during trading, a decline of 8% from the average daily volume of 4,957,588 shares. The stock had previously closed at $49.87.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. William Blair restated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Bank of America upped their price target on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. TD Cowen reiterated a “buy” rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Needham & Company LLC raised their target price on Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Tempus AI has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Performance

The firm has a 50-day simple moving average of $55.86 and a two-hundred day simple moving average of $51.48. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Buying and Selling

In other Tempus AI news, major shareholder Bradley A. Keywell sold 265,000 shares of Tempus AI stock in a transaction on 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 completion of the transaction, the insider now owns 15,218,365 shares of the company’s stock, valued at approximately $534,164,611.50. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David R. Epstein sold 990 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $46.83, for a total transaction of $46,361.70. Following the sale, the director now directly owns 26,284 shares in the company, valued at approximately $1,230,879.72. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,598,969 shares of company stock valued at $317,194,162 over the last ninety days.

Hedge Funds Weigh In On Tempus AI

Institutional investors and hedge funds have recently modified their holdings of the business. Operose Advisors LLC purchased a new position in Tempus AI during the fourth quarter worth approximately $25,000. First Horizon Advisors Inc. purchased a new stake in Tempus AI in the 3rd quarter worth $30,000. Farther Finance Advisors LLC purchased a new stake in Tempus AI in the 4th quarter worth $34,000. Prestige Wealth Management Group LLC lifted its holdings in Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Tempus AI in the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Company Profile

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.