Tempus AI (NASDAQ:TEM) Trading Down 1.9% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) fell 1.9% on Tuesday . The stock traded as low as $33.00 and last traded at $33.22. 417,510 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,623,468 shares. The stock had previously closed at $33.87.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Loop Capital upped their target price on shares of Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Guggenheim assumed coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and raised their price target for the company from $45.00 to $65.00 in a report on Monday, November 11th. Wolfe Research initiated coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Piper Sandler reiterated a “neutral” rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Tempus AI has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Tempus AI Trading Down 0.3 %

The company has a 50-day moving average of $49.28 and a 200-day moving average of $46.70. 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 Activity

In related news, CEO Eric P. Lefkofsky sold 187,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the completion of the sale, the chief executive officer now directly owns 9,557,283 shares in the company, valued at approximately $358,780,403.82. The trade was a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares of the company’s stock, valued at approximately $10,431,543.15. The trade was a 17.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 845,041 shares of company stock valued at $35,125,473 in the last quarter.

Institutional Investors Weigh In On Tempus AI

A number of large investors have recently modified their holdings of the company. First Horizon Advisors Inc. purchased a new stake in shares of Tempus AI during the third quarter worth approximately $30,000. Vestor Capital LLC purchased a new position in shares of Tempus AI during the 3rd quarter worth approximately $153,000. Stifel Financial Corp acquired a new position in shares of Tempus AI in the third quarter worth $218,000. Sandia Investment Management LP purchased a new position in Tempus AI in the 2nd quarter valued at about $136,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Tempus AI during the third quarter worth approximately $258,000. 24.22% of the stock is owned by hedge funds and other 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.