Tempus AI (NASDAQ:TEM) Shares Down 2.8% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s share price fell 2.8% during trading on Tuesday . The company traded as low as $38.13 and last traded at $39.62. 1,726,766 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 3,511,259 shares. The stock had previously closed at $40.76.

Analysts Set New Price Targets

TEM has been the topic of several research reports. Guggenheim initiated coverage on shares of Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Bank of America boosted their price target on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Loop Capital increased their price objective on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research assumed coverage on Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. Finally, Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Price 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 stock’s 50-day moving average price is $48.88 and its 200-day moving average price is $46.95.

Insiders Place Their Bets

In related news, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI 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 transaction, the chief executive officer now directly owns 9,557,283 shares in the company, valued at $358,780,403.82. The trade was a 1.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the sale, the insider now owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 845,041 shares of company stock worth $35,125,473.

Institutional Trading of Tempus AI

Several hedge funds and other institutional investors have recently bought and sold shares of TEM. NEA Management Company LLC boosted its holdings in shares of Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after purchasing an additional 813,169 shares during the last quarter. Novo Holdings A S purchased a new position in Tempus AI during the second quarter worth about $142,605,000. Revolution Growth Management Company Inc. purchased a new stake in Tempus AI in the 2nd quarter valued at about $128,133,000. ARK Investment Management LLC lifted its holdings in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after acquiring an additional 1,855,459 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after purchasing an additional 1,145,698 shares during the last quarter. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.