Tempus AI (NASDAQ:TEM) Stock Price Down 3.1% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) shares dropped 3.1% during trading on Monday . The stock traded as low as $44.28 and last traded at $46.33. Approximately 3,093,174 shares changed hands during trading, a decline of 41% from the average daily volume of 5,233,347 shares. The stock had previously closed at $47.83.

Analysts Set New Price Targets

TEM has been the subject of several research analyst reports. Guggenheim reissued a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Loop Capital reduced their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. TD Cowen reissued a “buy” rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Piper Sandler dropped 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, Morgan Stanley increased their target price on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Tempus AI has an average rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Stock Performance

The company has a 50-day simple moving average of $58.64 and a 200-day simple moving average of $51.56. 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 Buying and Selling

In other Tempus AI news, CAO Ryan M. Bartolucci sold 13,770 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $60.00, for a total value of $826,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,237 shares of the company’s stock, valued at approximately $3,434,220. This trade represents a 19.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bradley A. Keywell sold 170,720 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $35.45, for a total value of $6,052,024.00. Following the sale, the insider now directly owns 15,993,729 shares in the company, valued at $566,977,693.05. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,598,969 shares of company stock valued at $317,194,162 over the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC increased its holdings in Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after acquiring an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position 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 worth $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position 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 purchasing an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. lifted its stake in Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after buying an additional 1,950,862 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock valued at $55,836,000 after buying an additional 1,651,996 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.