Tempus AI (NASDAQ:TEM) Shares Gap Down – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $85.71, but opened at $79.99. Tempus AI shares last traded at $74.08, with a volume of 7,986,420 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEM. Bank of America increased their target price on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Wolfe Research began coverage on shares of Tempus AI in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. William Blair cut shares of Tempus AI from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. TD Cowen reiterated a “buy” rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, Loop Capital cut their price target on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.55.

Tempus AI Price Performance

The business has a 50 day simple moving average of $49.05 and a 200-day simple moving average of $51.26. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insiders Place Their Bets

In related news, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the transaction, the insider now directly owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. The trade was a 2.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric P. Lefkofsky sold 80,003 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $85.78, for a total transaction of $6,862,657.34. Following the transaction, the chief executive officer now owns 5,049,460 shares of the company’s stock, valued at approximately $433,142,678.80. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,401,779 shares of company stock valued at $115,707,361 in the last three months.

Institutional Investors Weigh In On Tempus AI

Institutional investors have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC bought a new stake in shares of Tempus AI during the 3rd quarter valued at $1,367,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tempus AI during the fourth quarter valued at about $1,091,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after buying an additional 1,145,698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Tempus AI in the fourth quarter valued at approximately $178,000. Finally, Captrust Financial Advisors bought a new position in shares of Tempus AI in the third quarter valued at 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.