Tempus AI (NASDAQ:TEM) Trading Down 9.5% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s share price dropped 9.5% on Tuesday . The company traded as low as $45.25 and last traded at $45.15. Approximately 4,582,990 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 4,957,588 shares. The stock had previously closed at $49.87.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Cowen reiterated a “buy” rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Needham & Company LLC lifted their price target on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Bank of America lifted their target price on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Finally, Piper Sandler decreased their price target on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Price Performance

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 business’s 50-day simple moving average is $55.51 and its two-hundred day simple moving average is $51.60.

Insider Buying and Selling

In related news, major shareholder Bradley A. Keywell sold 170,720 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the sale, the insider now owns 15,993,729 shares of the company’s stock, valued at approximately $566,977,693.05. This represents a 1.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric P. Lefkofsky sold 187,655 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the completion of 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. The trade was a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,749,469 shares of company stock valued at $322,529,733.

Institutional Investors Weigh In On Tempus AI

A number of large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in shares of Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after buying an additional 278 shares during the last quarter. First Horizon Advisors Inc. purchased a new stake in Tempus AI during the 3rd quarter valued at about $30,000. Geode Capital Management LLC grew its position in Tempus AI by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after acquiring an additional 539 shares during the last quarter. Operose Advisors LLC purchased a new position in Tempus AI in the 4th quarter worth approximately $25,000. Finally, Prestige Wealth Management Group LLC lifted its position in Tempus AI by 910.4% in the fourth 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 last quarter. Hedge funds and other 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.