Tempus AI (NASDAQ:TEM) Trading Down 2.7% – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) traded down 2.7% during mid-day trading on Thursday . The stock traded as low as $48.52 and last traded at $51.65. 4,347,934 shares changed hands during trading, a decline of 8% from the average session volume of 4,727,333 shares. The stock had previously closed at $53.06.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TEM. Morgan Stanley increased their price objective on Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday. Loop Capital reduced their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Needham & Company LLC boosted their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Bank of America upped their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Guggenheim reiterated a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Tempus AI presently has a consensus rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Performance

The business’s fifty day simple moving average is $53.75 and its 200-day simple moving average is $52.57. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Buying and Selling

In other news, EVP Andrew Polovin sold 51,504 shares of Tempus AI stock in a transaction dated 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 owns 246,085 shares of the company’s stock, valued at approximately $10,431,543.15. The trade was a 17.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the transaction, the chief executive officer now owns 4,895,589 shares in the company, valued at $287,615,853.75. This represents a 39.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,823,701 shares of company stock valued at $320,906,059 over the last ninety days.

Institutional Trading of Tempus AI

Several large investors have recently bought and sold shares of the company. Kovitz Investment Group Partners LLC bought a new position in shares of Tempus AI in the 3rd quarter worth approximately $1,367,000. China Universal Asset Management Co. Ltd. bought a new position in Tempus AI in the fourth quarter worth $1,091,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after buying an additional 1,145,698 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Tempus AI during the 4th quarter valued at $178,000. Finally, Captrust Financial Advisors bought a new stake in shares of Tempus AI during the 3rd quarter valued at $2,726,000. 24.22% of the stock is owned by institutional investors.

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.