Tempus AI (NASDAQ:TEM) Shares Down 1.3% – Should You Sell?

Tempus AI, Inc. (NASDAQ:TEM) dropped 1.3% on Wednesday . The company traded as low as $55.30 and last traded at $57.78. Approximately 3,867,270 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 5,141,932 shares. The stock had previously closed at $58.57.

Analyst Ratings Changes

Several research analysts have recently weighed in on TEM shares. Bank of America upped their target price on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Loop Capital lowered their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler lowered their price objective on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Guggenheim reiterated a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The business has a 50-day moving average price of $57.42 and a two-hundred day moving average price of $51.46.

Insiders Place Their Bets

In other Tempus AI news, CAO Ryan M. Bartolucci sold 13,770 shares of the firm’s 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 sale, the chief accounting officer now directly owns 57,237 shares in the company, valued at $3,434,220. This trade represents a 19.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Polovin sold 13,135 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total value of $603,947.30. Following the sale, the executive vice president now owns 154,171 shares of the company’s stock, valued at approximately $7,088,782.58. The trade was a 7.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,598,969 shares of company stock worth $317,194,162 in the last quarter.

Hedge Funds Weigh In On Tempus AI

Several hedge funds have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC purchased a new position in shares of Tempus AI in the 3rd quarter valued at $1,367,000. Victory Capital Management Inc. purchased a new stake in Tempus AI in the fourth quarter valued at $216,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tempus AI during the fourth quarter worth about $1,091,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Tempus AI during the fourth quarter worth about $178,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Tempus AI during the third quarter worth about $2,726,000. 24.22% of the stock is currently 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.