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

Tempus AI, Inc. (NASDAQ:TEM) traded down 9.5% during trading on Tuesday . The company traded as low as $45.25 and last traded at $45.15. 4,582,990 shares changed hands during trading, a decline of 8% from the average session volume of 4,957,588 shares. The stock had previously closed at $49.87.

Analyst Upgrades and Downgrades

TEM has been the topic of several research reports. Bank of America boosted their price target on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Wolfe Research cut shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Morgan Stanley lifted their price target on Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Finally, Loop Capital decreased their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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 fifty day moving average is $55.86 and its two-hundred day moving average is $51.48.

Insider Activity

In other Tempus AI news, CAO Ryan M. Bartolucci sold 13,770 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the transaction, the chief accounting officer now directly owns 57,237 shares in the company, valued at $3,434,220. This trade represents a 19.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nadja West sold 809 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the transaction, the director now directly owns 37,705 shares in the company, valued at $1,927,102.55. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,598,969 shares of company stock valued at $317,194,162.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently modified their holdings of the business. ARK Investment Management LLC boosted its holdings in shares of Tempus AI by 132.1% in the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after buying an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Tempus AI by 166.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after purchasing an additional 1,950,862 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock valued at $55,836,000 after purchasing an additional 1,651,996 shares during the last quarter. 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.