Tempus AI (NASDAQ:TEM) Trading Down 6.2% After Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) dropped 6.2% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $45.41 and last traded at $46.79. Approximately 4,104,211 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 5,279,708 shares. The stock had previously closed at $49.89.

Specifically, Director Wayne A.I. Frederick sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $45.54, for a total transaction of $136,620.00. Following the transaction, the director now directly owns 26,514 shares of the company’s stock, valued at $1,207,447.56. This represents a 10.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Ratings Changes

TEM has been the subject of a number of recent research reports. 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 reiterated a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. TD Cowen restated a “buy” rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Morgan Stanley lifted their price target on Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, Loop Capital lowered their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Trading Down 5.6 %

The business’s fifty day moving average is $58.62 and its 200 day moving average is $51.55. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently added to or reduced their stakes in TEM. Operose Advisors LLC bought a new stake in shares of Tempus AI in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC purchased a new position in Tempus AI in the 4th quarter valued at approximately $34,000. Prestige Wealth Management Group LLC raised its holdings in 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. NewEdge Advisors LLC purchased a new stake in shares of Tempus AI during the fourth quarter worth $49,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Tempus AI by 207.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock worth $55,000 after acquiring an additional 1,108 shares during the period. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.