Tempus AI (NASDAQ:TEM) Shares Down 17.8% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) shares dropped 17.8% on Tuesday . The stock traded as low as $57.10 and last traded at $57.18. Approximately 14,891,416 shares changed hands during mid-day trading, an increase of 2% from the average daily volume of 14,551,030 shares. The stock had previously closed at $69.57.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a report on Tuesday. TD Cowen reissued a “buy” rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Loop Capital lowered their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and increased their target price for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.55.

Tempus AI Trading Down 16.5 %

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The business’s 50 day moving average is $50.88 and its 200-day moving average is $52.03.

Insider Buying and Selling

In other news, CAO Ryan M. Bartolucci sold 818 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $81.87, for a total transaction of $66,969.66. Following the completion of the transaction, the chief accounting officer now directly owns 46,182 shares in the company, valued at approximately $3,780,920.34. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David R. Epstein sold 620 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total value of $25,922.20. Following the completion of the transaction, the director now owns 27,894 shares of the company’s stock, valued at $1,166,248.14. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,583,467 shares of company stock worth $130,542,311 in the last ninety days.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently bought and sold shares of TEM. ARK Investment Management LLC grew its holdings in shares of Tempus AI by 132.1% during the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after purchasing an additional 3,141,487 shares during the last quarter. NEA Management Company LLC boosted its position in Tempus AI by 17.8% during the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after buying an additional 813,169 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Tempus AI by 166.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after acquiring an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in Tempus AI by 166.0% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after acquiring an additional 2,021,394 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after acquiring an additional 1,950,862 shares during the last quarter. Institutional investors and hedge funds 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.