Tempus AI (NASDAQ:TEM) Trading Down 14.5% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) shares were down 14.5% during trading on Thursday . The company traded as low as $72.25 and last traded at $73.25. Approximately 12,344,723 shares were traded during trading, a decline of 13% from the average daily volume of 14,108,291 shares. The stock had previously closed at $85.71.

Analysts Set New Price Targets

A number of analysts have recently commented on TEM shares. TD Cowen reiterated a “buy” rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Wolfe Research assumed coverage on Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. Bank of America raised their price target on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Piper Sandler reissued a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Finally, William Blair lowered Tempus AI from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.55.

Tempus AI Stock Performance

The stock has a fifty day simple moving average of $49.05 and a two-hundred day simple moving average of $51.26. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Buying and Selling at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the sale, the insider now owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. The trade was a 2.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David R. Epstein sold 620 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total value of $25,922.20. Following the sale, the director now directly owns 27,894 shares in the company, valued at $1,166,248.14. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,401,779 shares of company stock valued at $115,707,361.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently modified their holdings of the company. Kovitz Investment Group Partners LLC acquired a new position in shares of Tempus AI during the 3rd quarter worth approximately $1,367,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tempus AI during the 4th quarter worth approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Tempus AI by 1,591.2% during the 3rd 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Tempus AI during the 4th quarter worth approximately $178,000. Finally, Captrust Financial Advisors acquired a new position in shares of Tempus AI during the 3rd quarter worth approximately $2,726,000. 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.