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

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their target price for the stock 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 price objective (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Bank of America raised their target price on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Loop Capital upped their price target on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research assumed coverage on Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Tempus AI has a consensus rating of “Moderate Buy” and an average target price of $56.00.

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 stock’s 50 day simple moving average is $48.59 and its two-hundred day simple moving average is $46.96.

Insider Activity

In other Tempus AI news, Director David R. Epstein sold 620 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total transaction of $25,922.20. Following the completion of the transaction, the director now directly owns 27,894 shares in the company, valued at $1,166,248.14. This represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 16,164,449 shares in the company, valued at $694,263,084.55. This represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,041 shares of company stock worth $35,917,673.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI in the third quarter valued at $30,000. Vestor Capital LLC bought a new stake in Tempus AI during the 3rd quarter worth about $153,000. Stifel Financial Corp acquired a new stake in Tempus AI in the 3rd quarter valued at about $218,000. Sandia Investment Management LP bought a new position in shares of Tempus AI in the second quarter worth about $136,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Tempus AI in the third quarter worth about $258,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.