Tempus AI (NASDAQ:TEM) Trading Down 1.3% – Here’s Why

Shares of Tempus AI, Inc. (NASDAQ:TEM) traded down 1.3% on Wednesday . The stock traded as low as $55.30 and last traded at $57.78. Approximately 3,867,270 shares were traded during mid-day trading, a decline of 25% from the average session volume of 5,141,932 shares. The stock had previously closed at $58.57.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and upped their target price for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. TD Cowen restated a “buy” rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Piper Sandler lowered their price objective 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. William Blair reiterated a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Finally, Bank of America raised their price target on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The business’s 50 day simple moving average is $58.13 and its two-hundred day simple moving average is $51.48.

Insider Activity at Tempus AI

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $60.00, for a total value of $826,200.00. Following the completion of the sale, the chief accounting officer now owns 57,237 shares in the company, valued at $3,434,220. This represents a 19.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ryan Fukushima sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total transaction of $792,200.00. Following the transaction, the chief operating officer now owns 982,442 shares in the company, valued at approximately $38,914,527.62. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,598,969 shares of company stock valued at $317,194,162.

Hedge Funds Weigh In On Tempus AI

Hedge funds have recently modified their holdings of the company. Operose Advisors LLC bought a new position in shares of Tempus AI in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC purchased a new position in Tempus AI in the fourth quarter worth $34,000. Prestige Wealth Management Group LLC grew its stake in 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 purchasing an additional 965 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Tempus AI during the 4th quarter valued at $49,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Tempus AI by 207.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock worth $55,000 after purchasing an additional 1,108 shares during the period. Institutional investors 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.