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

Tempus AI, Inc. (NASDAQ:TEM) shares gapped down before the market opened on Monday . The stock had previously closed at $65.49, but opened at $61.88. Tempus AI shares last traded at $62.33, with a volume of 3,818,153 shares.

Analyst Ratings Changes

Several equities analysts recently commented on TEM shares. JPMorgan Chase & Co. downgraded Tempus AI from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. William Blair reiterated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Guggenheim reiterated a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Morgan Stanley raised their target price on Tempus AI from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, TD Cowen reiterated a “buy” rating and issued a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.75.

Tempus AI Price Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The company has a fifty day moving average of $50.05 and a 200 day moving average of $51.76. The firm has a market capitalization of $10.72 billion and a P/E ratio of -7.98.

Tempus AI (NASDAQ:TEM) last issued its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. The firm had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. The firm’s revenue for the quarter was up 75.4% compared to the same quarter last year. Sell-side analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total value of $1,047,200.00. Following the sale, the chief operating officer now owns 884,460 shares in the company, valued at approximately $46,310,325.60. This trade represents a 2.21% 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, Director Wayne A.I. Frederick sold 3,000 shares of Tempus AI stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $45.54, for a total value of $136,620.00. Following the sale, the director now owns 26,514 shares of the company’s stock, valued at approximately $1,207,447.56. This trade represents a 10.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,065,231 shares of company stock valued at $237,796,095. 27.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avanza Fonder AB bought a new stake in Tempus AI during the fourth quarter worth about $1,197,000. Dakota Wealth Management lifted its stake in Tempus AI by 189.7% in the fourth quarter. Dakota Wealth Management now owns 60,668 shares of the company’s stock worth $2,048,000 after purchasing an additional 39,724 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Tempus AI during the fourth quarter valued at about $372,000. Exchange Traded Concepts LLC increased its holdings in shares of Tempus AI by 37.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 84,174 shares of the company’s stock worth $2,842,000 after buying an additional 23,070 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Tempus AI in the 4th quarter valued at about $1,091,000. 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.