Tempus AI (NASDAQ:TEM) Stock Price Down 7.6% – What’s Next?

Shares of Tempus AI, Inc. (NASDAQ:TEM) fell 7.6% during trading on Friday . The stock traded as low as $47.67 and last traded at $48.00. 4,368,169 shares were traded during mid-day trading, a decline of 16% from the average session volume of 5,195,375 shares. The stock had previously closed at $51.97.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Bank of America upped their price objective on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. William Blair reiterated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Morgan Stanley upped their price target on Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Trading Down 8.0 %

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 business’s fifty day moving average is $58.38 and its 200 day moving average is $51.52.

Insider Activity

In other news, COO Ryan Fukushima sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $39.61, for a total value of $792,200.00. Following the completion of the transaction, the chief operating officer now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the stock in a transaction 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 directly owns 57,237 shares in the company, valued at approximately $3,434,220. This represents a 19.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TEM. ARK Investment Management LLC boosted its position in shares of Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after acquiring an additional 3,141,487 shares during the last quarter. NEA Management Company LLC raised its stake in Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after purchasing an additional 813,169 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tempus AI by 166.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of Tempus AI by 166.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after buying an additional 2,021,394 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after buying an additional 1,950,862 shares during the period. Institutional investors and hedge funds 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.