Tempus AI (NASDAQ:TEM) Shares Down 2.8% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) shares traded down 2.8% during trading on Tuesday . The company traded as low as $38.13 and last traded at $39.62. 1,726,766 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 3,511,259 shares. The stock had previously closed at $40.76.

Analyst Ratings Changes

Several equities research analysts have recently commented on TEM shares. Piper Sandler reissued a “neutral” rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Wolfe Research began coverage on Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective for the company. Bank of America upped their target price on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Loop Capital lifted their price target on shares of Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Stock Down 3.6 %

The company’s 50 day simple moving average is $48.59 and its 200 day simple moving average is $46.96. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insider Activity

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the sale, the executive vice president now directly owns 246,085 shares in the company, valued at approximately $10,431,543.15. This trade represents a 17.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the transaction, the insider now owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,041 shares of company stock valued at $35,917,673 in the last quarter.

Hedge Funds Weigh In On Tempus AI

A number of large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI in the 3rd quarter valued at approximately $30,000. Sandia Investment Management LP bought a new stake in Tempus AI during the second quarter worth $136,000. Vestor Capital LLC acquired a new stake in Tempus AI in the third quarter valued at $153,000. Stifel Financial Corp bought a new position in shares of Tempus AI in the 3rd quarter valued at about $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Tempus AI during the 3rd quarter worth about $258,000. 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.