Tempus AI (NASDAQ:TEM) Shares Down 2.5% – Here’s Why

Shares of Tempus AI, Inc. (NASDAQ:TEM) were down 2.5% during trading on Thursday . The stock traded as low as $66.29 and last traded at $67.48. Approximately 8,477,029 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 11,188,259 shares. The stock had previously closed at $69.18.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TEM shares. Wolfe Research started coverage on Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price for the company. Bank of America raised their target price on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Guggenheim started coverage on Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 target price for the company. Loop Capital reduced their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Price Performance

The stock has a fifty day simple moving average of $44.32 and a 200-day simple moving average of $48.73. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Activity

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total value of $16,999,610.00. Following the completion of the sale, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric P. Lefkofsky sold 476,209 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $49.84, for a total value of $23,734,256.56. Following the completion of the sale, the chief executive officer now owns 6,502,643 shares of the company’s stock, valued at approximately $324,091,727.12. This trade represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,038,072 shares of company stock worth $89,469,375.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new position in shares of Tempus AI during the 3rd quarter worth about $30,000. FNY Investment Advisers LLC acquired a new position in shares of Tempus AI during the 4th quarter worth about $67,000. IFP Advisors Inc acquired a new position in shares of Tempus AI during the 4th quarter worth about $76,000. US Bancorp DE acquired a new position in shares of Tempus AI during the 4th quarter worth about $80,000. Finally, Vestor Capital LLC acquired a new position in shares of Tempus AI during the 3rd quarter worth about $153,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.