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

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $37.52, but opened at $33.69. Tempus AI shares last traded at $32.24, with a volume of 1,851,924 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TEM. 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. Guggenheim assumed coverage on shares of Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective on the stock. Bank of America raised their price target on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the company from $45.00 to $65.00 in a report on Monday, November 11th. Finally, Wolfe Research initiated coverage on shares of Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Stock Performance

The firm has a 50-day simple moving average of $48.28 and a 200 day simple moving average of $47.27. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insiders Place Their Bets

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the transaction, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric P. Lefkofsky sold 187,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 owns 9,557,283 shares of the company’s stock, valued at $358,780,403.82. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 865,041 shares of company stock worth $35,917,673 in the last quarter.

Institutional Investors Weigh In On Tempus AI

Hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI during the 3rd quarter worth $30,000. Sandia Investment Management LP acquired a new position in shares of Tempus AI during the second quarter valued at $136,000. Vestor Capital LLC acquired a new stake in shares of Tempus AI during the 3rd quarter worth approximately $153,000. Stifel Financial Corp bought a new stake in shares of Tempus AI during the 3rd quarter valued at $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Tempus AI during the third quarter worth about $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.