Tempus AI (NASDAQ:TEM) Shares Down 4.3% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price dropped 4.3% during trading on Tuesday . The company traded as low as $48.87 and last traded at $49.62. Approximately 3,190,208 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 9,131,566 shares. The stock had previously closed at $51.86.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEM. Guggenheim began coverage on Tempus AI in a report on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $56.00 price target on shares of Tempus AI in a research report on Tuesday, January 14th. Piper Sandler reiterated a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Bank of America lifted their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and upped their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tempus AI presently has an average rating of “Moderate Buy” and an average price target of $56.36.

Tempus AI Price Performance

The stock has a fifty day moving average of $44.11 and a 200-day moving average of $47.97. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Transactions at Tempus AI

In related news, major shareholder Bradley A. Keywell sold 265,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $35.10, for a total value of $9,301,500.00. Following the completion of the sale, the insider now directly owns 15,218,365 shares of the company’s stock, valued at $534,164,611.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric P. Lefkofsky sold 85,788 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $53.39, for a total transaction of $4,580,221.32. Following the transaction, the chief executive officer now directly owns 5,771,787 shares in the company, valued at $308,155,707.93. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,862,758 shares of company stock worth $79,585,675.

Hedge Funds Weigh In On Tempus AI

Institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI in the 3rd quarter valued at $30,000. FNY Investment Advisers LLC bought a new position in Tempus AI in the fourth quarter worth about $67,000. Vestor Capital LLC bought a new position in Tempus AI in the third quarter worth about $153,000. Stifel Financial Corp bought a new stake in shares of Tempus AI in the 3rd quarter valued at about $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Tempus AI in the 3rd quarter worth approximately $258,000. 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.