Tempus AI (NASDAQ:TEM) Trading Down 2.4% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s stock price dropped 2.4% during mid-day trading on Wednesday . The company traded as low as $44.67 and last traded at $44.47. Approximately 5,568,145 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 4,839,058 shares. The stock had previously closed at $45.58.

Analysts Set New Price Targets

Several research firms have issued reports on TEM. Wolfe Research lowered shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Loop Capital decreased their target price 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 lifted their price target on shares of Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Morgan Stanley lifted their price target on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Finally, Bank of America boosted their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Tempus AI presently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Performance

The stock’s 50-day moving average price is $55.15 and its 200 day moving average price is $51.92. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insiders Place Their Bets

In other Tempus AI news, EVP Andrew Polovin sold 1,130 shares of Tempus AI stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $40.23, for a total value of $45,459.90. Following the completion of the sale, the executive vice president now owns 244,955 shares in the company, valued at $9,854,539.65. The trade was a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $60.00, for a total transaction of $826,200.00. Following the completion of the sale, the chief accounting officer now directly owns 57,237 shares of the company’s stock, 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 5,755,906 shares of company stock valued at $322,788,693.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Operose Advisors LLC acquired a new stake in Tempus AI during the fourth quarter worth approximately $25,000. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter valued at $34,000. Prestige Wealth Management Group LLC lifted its position in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after acquiring an additional 965 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter valued at $49,000. 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.