Tempus AI (NASDAQ:TEM) Shares Down 0.5% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) shares dropped 0.5% during trading on Friday . The stock traded as low as $34.82 and last traded at $37.30. Approximately 1,160,993 shares traded hands during trading, a decline of 65% from the average daily volume of 3,336,246 shares. The stock had previously closed at $37.49.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TEM shares. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and increased their price target for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Wolfe Research began coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. Guggenheim started coverage on shares of Tempus AI in a report on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Finally, Bank of America lifted their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Trading Up 0.1 %

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 moving average price is $48.28 and its 200-day moving average price is $47.13.

Insider Buying and Selling

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the completion of the sale, the insider now owns 16,164,449 shares in the company, valued at $694,263,084.55. This represents a 2.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Ryan Fukushima sold 20,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total transaction of $792,200.00. Following the completion of the sale, the chief operating officer now directly owns 982,442 shares of the company’s stock, valued at $38,914,527.62. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,041 shares of company stock valued at $35,917,673.

Hedge Funds Weigh In On Tempus AI

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI in the 3rd quarter worth approximately $30,000. Geode Capital Management LLC increased its position in Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after buying an additional 539 shares during the last quarter. Vestor Capital LLC bought a new stake in shares of Tempus AI in the third quarter valued at $153,000. The Manufacturers Life Insurance Company lifted its position in shares of Tempus AI by 10.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock valued at $1,686,000 after buying an additional 2,765 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Tempus AI during the 3rd quarter worth $218,000. 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.