Tempus AI (NASDAQ:TEM) Shares Down 1.3% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM) was down 1.3% on Wednesday . The company traded as low as $55.30 and last traded at $57.78. Approximately 3,867,270 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 5,141,932 shares. The stock had previously closed at $58.57.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TEM shares. Needham & Company LLC boosted their price target on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Piper Sandler dropped their price target on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Loop Capital reduced their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Morgan Stanley raised their target price on shares of Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Trading Down 8.0 %

The business’s 50-day simple moving average is $58.13 and its two-hundred day simple moving average is $51.48. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Activity at Tempus AI

In other Tempus AI news, CEO Eric P. Lefkofsky sold 3,240,234 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the sale, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. The trade was a 39.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nadja West sold 809 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total transaction of $41,347.99. Following the completion of the transaction, the director now owns 37,705 shares of the company’s stock, valued at approximately $1,927,102.55. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,598,969 shares of company stock valued at $317,194,162 in the last 90 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its stake in shares of Tempus AI by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after buying an additional 278 shares during the period. Geode Capital Management LLC raised its holdings in Tempus AI by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after purchasing an additional 539 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of Tempus AI in the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its stake in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Tempus AI during the fourth quarter worth $34,000. 24.22% of the stock is owned by 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.