Tempus AI (NASDAQ:TEM) Stock Price Down 7.9% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) shares traded down 7.9% during mid-day trading on Monday . The company traded as low as $31.36 and last traded at $34.55. 3,300,319 shares changed hands during trading, a decline of 4% from the average session volume of 3,431,535 shares. The stock had previously closed at $37.52.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TEM. Bank of America upped 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. Piper Sandler restated a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and raised their price target for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Loop Capital lifted their target price on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Guggenheim started coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Tempus AI presently has an average rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Trading Down 13.7 %

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 has a 50 day simple moving average of $48.28 and a 200-day simple moving average of $47.27.

Insider Buying and Selling

In other Tempus AI news, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the transaction, the chief executive officer now owns 9,557,283 shares of the company’s stock, valued at $358,780,403.82. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Ryan Fukushima sold 120,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.51, for a total transaction of $5,101,200.00. Following the completion of the sale, the chief operating officer now directly owns 1,007,207 shares of the company’s stock, valued at $42,816,369.57. This trade represents a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 865,041 shares of company stock worth $35,917,673 in the last three months.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently modified their holdings of the company. NEA Management Company LLC acquired a new position in Tempus AI in the 2nd quarter worth about $160,048,000. Novo Holdings A S bought a new stake in shares of Tempus AI in the 2nd quarter valued at approximately $142,605,000. ARK Investment Management LLC increased its holdings in Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after buying an additional 1,855,459 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Finally, Lingotto Investment Management LLP bought a new stake in Tempus AI in the second quarter worth approximately $32,685,000. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

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.