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

Tempus AI, Inc. (NASDAQ:TEM) gapped down prior to trading on Wednesday . The stock had previously closed at $45.00, but opened at $42.08. Tempus AI shares last traded at $40.23, with a volume of 2,233,639 shares trading hands.

Analyst Ratings Changes

Several brokerages have commented on TEM. Stifel Nicolaus cut 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 research report on Monday, November 11th. Piper Sandler reissued a “neutral” rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Bank of America downgraded Tempus AI from a “buy” rating to a “neutral” rating and upped their price target for the stock from $45.00 to $60.00 in a report on Wednesday, October 2nd. Guggenheim started coverage on Tempus AI in a research note on Monday. They issued a “buy” rating and a $74.00 price objective for the company. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.20.

Tempus AI Price Performance

The firm’s fifty day simple moving average is $52.88. 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 Buying and Selling at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the transaction, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Trading of Tempus AI

Large investors have recently bought and sold shares of the business. NEA Management Company LLC increased its stake in Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares during the period. Novo Holdings A S purchased a new position in shares of Tempus AI during the second quarter worth about $142,605,000. Revolution Growth Management Company Inc. acquired a new position in Tempus AI in the 2nd quarter valued at about $128,133,000. ARK Investment Management LLC raised its stake in Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after acquiring an additional 1,855,459 shares during the last quarter. Finally, Alphabet Inc. acquired a new stake in Tempus AI during the 2nd quarter worth approximately $54,289,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

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.