Tempus AI (NASDAQ:TEM) Trading Down 1.4% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price fell 1.4% during trading on Tuesday . The company traded as low as $58.35 and last traded at $58.16. 6,469,384 shares were traded during trading, a decline of 53% from the average session volume of 13,663,560 shares. The stock had previously closed at $59.00.

Analyst Upgrades and Downgrades

Several research firms have commented on TEM. Piper Sandler reduced their price objective on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Needham & Company LLC raised their price target on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Wolfe Research lowered shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Morgan Stanley increased their target price on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, Bank of America boosted their price target on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Down 2.1 %

The firm’s 50 day simple moving average is $56.88 and its 200 day simple moving average is $51.40. 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 Buying and Selling at Tempus AI

In other Tempus AI news, major shareholder Bradley A. Keywell sold 265,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $35.10, for a total value of $9,301,500.00. Following the completion of the transaction, the insider now owns 15,218,365 shares in the company, valued at approximately $534,164,611.50. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total value of $826,200.00. Following the transaction, the chief accounting officer now owns 57,237 shares in the company, valued at $3,434,220. This represents a 19.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,598,969 shares of company stock valued at $317,194,162.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. acquired a new position in Tempus AI in the 3rd quarter valued at $30,000. The Manufacturers Life Insurance Company grew its holdings in shares of Tempus AI by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after buying an additional 2,765 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Tempus AI during the 3rd quarter valued at about $2,726,000. NEA Management Company LLC raised its holdings in Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after acquiring an additional 813,169 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Tempus AI in the third quarter valued at approximately $725,000. 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.