Tempus AI (NASDAQ:TEM) Shares Down 7.8% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s share price fell 7.8% during trading on Tuesday . The company traded as low as $82.62 and last traded at $82.47. 11,643,962 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 13,738,480 shares. The stock had previously closed at $89.44.

Analyst Upgrades and Downgrades

TEM has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Tempus AI in a research note on Tuesday, January 14th. Wolfe Research began coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. Stifel Nicolaus lowered shares of 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 research note on Monday, November 11th. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Finally, Bank of America boosted their target price on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tempus AI presently has an average rating of “Moderate Buy” and an average price target of $58.55.

Tempus AI Stock Down 8.4 %

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The firm has a 50-day moving average price of $47.46 and a two-hundred day moving average price of $50.72.

Insider Buying and Selling at Tempus AI

In other Tempus AI news, Director Jennifer A. Doudna sold 1,320 shares of Tempus AI stock in a transaction on Friday, February 14th. The shares were sold at an average price of $90.00, for a total value of $118,800.00. Following the sale, the director now directly owns 36,011 shares in the company, valued at approximately $3,240,990. The trade was a 3.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the transaction, the insider now owns 15,218,365 shares of the company’s stock, valued at approximately $534,164,611.50. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,401,779 shares of company stock worth $115,707,361.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC increased its stake in shares of Tempus AI by 132.1% during the 4th 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. Sumitomo Mitsui Trust Group Inc. lifted its stake in Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the period. Franklin Resources Inc. increased its position in Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after buying an additional 1,950,862 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock valued at $55,836,000 after buying an additional 1,651,996 shares during the period. 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.