Tempus AI (NASDAQ:TEM) Shares Down 7.6% – Here’s Why

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

Analyst Upgrades and Downgrades

Several research firms recently commented on TEM. TD Cowen restated a “buy” rating and issued a $74.00 target price (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut shares of Tempus AI from an “overweight” rating to a “neutral” rating and raised their target price for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Needham & Company LLC lifted their price target on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Performance

The firm’s 50-day simple moving average is $58.13 and its two-hundred day simple moving average is $51.48. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Transactions at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 170,720 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the transaction, the insider now directly owns 15,993,729 shares in the company, valued at $566,977,693.05. The trade was a 1.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Ryan Fukushima sold 20,000 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 982,442 shares in the company, valued at $38,914,527.62. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,598,969 shares of company stock valued at $317,194,162 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TEM. Operose Advisors LLC acquired a new stake in shares of Tempus AI during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC acquired a new position in shares of Tempus AI during the 4th quarter worth $34,000. Prestige Wealth Management Group LLC increased its stake 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 worth $36,000 after purchasing an additional 965 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Tempus AI in the fourth quarter worth $49,000. Finally, First Horizon Advisors Inc. lifted its position 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 buying an additional 1,108 shares during the last quarter. Hedge funds and other 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.