Tempus AI (NASDAQ:TEM) Stock Price Down 7.6% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s share price traded down 7.6% during mid-day trading on Friday . The company traded as low as $47.67 and last traded at $48.00. 4,368,169 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 5,195,375 shares. The stock had previously closed at $51.97.

Analysts Set New Price Targets

Several brokerages recently commented on TEM. Loop Capital dropped their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Morgan Stanley boosted their price objective on Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Bank of America raised their target price on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Finally, TD Cowen restated a “buy” rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Stock 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 stock’s 50 day simple moving average is $58.13 and its 200 day simple moving average is $51.48.

Insider Buying and Selling

In other Tempus AI news, CFO James William Rogers sold 23,030 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $45.97, for a total transaction of $1,058,689.10. Following the completion of the sale, the chief financial officer now owns 164,750 shares in the company, valued at $7,573,557.50. The trade was a 12.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer A. Doudna sold 1,320 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $90.00, for a total transaction of $118,800.00. Following the sale, the director now directly owns 36,011 shares in the company, valued at $3,240,990. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Trading of Tempus AI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in Tempus AI during the 4th quarter worth $108,000. Voloridge Investment Management LLC bought a new position in shares of Tempus AI during the fourth quarter worth about $11,826,000. Two Sigma Advisers LP bought a new position in shares of Tempus AI during the fourth quarter worth about $625,000. ProShare Advisors LLC acquired a new stake in shares of Tempus AI in the 4th quarter worth about $244,000. Finally, Lazard Asset Management LLC bought a new stake in Tempus AI in the 4th quarter valued at about $1,034,000. 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.