Tempus AI (NASDAQ:TEM) Shares Down 2.8% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) shares were down 2.8% on Tuesday . The stock traded as low as $38.13 and last traded at $39.62. Approximately 1,726,766 shares traded hands during trading, a decline of 51% from the average daily volume of 3,511,259 shares. The stock had previously closed at $40.76.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEM. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Piper Sandler reiterated a “neutral” rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Bank of America boosted their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Loop Capital raised their target price on shares of Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Wolfe Research began coverage on Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Tempus AI presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Tempus AI Stock Down 1.5 %

The company’s 50 day simple moving average is $48.88 and its two-hundred day simple moving average is $46.95. 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 Activity at Tempus AI

In related news, CFO James William Rogers sold 83,025 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $3,511,957.50. Following the completion of the transaction, the chief financial officer now directly owns 231,280 shares of the company’s stock, valued at $9,783,144. The trade was a 26.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric P. Lefkofsky sold 187,655 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total value of $7,044,568.70. Following the transaction, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at approximately $358,780,403.82. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 845,041 shares of company stock worth $35,125,473.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NEA Management Company LLC acquired a new position in Tempus AI in the second quarter valued at approximately $160,048,000. Novo Holdings A S purchased a new stake in Tempus AI in the second quarter valued at $142,605,000. Revolution Growth Management Company Inc. acquired a new position in Tempus AI in the second quarter valued at $128,133,000. ARK Investment Management LLC grew its holdings in shares of Tempus AI by 355.0% during the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after purchasing an additional 1,145,698 shares in the last quarter. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.