Tempus AI (NASDAQ:TEM) Stock Price Down 2.9% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) traded down 2.9% during mid-day trading on Tuesday . The company traded as low as $41.30 and last traded at $41.47. 5,525,892 shares were traded during mid-day trading, a decline of 58% from the average session volume of 13,077,118 shares. The stock had previously closed at $42.70.

Analyst Ratings Changes

Several brokerages recently issued reports on TEM. Guggenheim reiterated a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. William Blair reissued a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered shares of Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $55.00 in a report on Tuesday, February 25th. TD Cowen reiterated a “buy” rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Finally, Needham & Company LLC increased 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. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Price Performance

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The stock has a fifty day simple moving average of $58.09 and a two-hundred day simple moving average of $51.40.

Insider Transactions at Tempus AI

In related news, Director Wayne A.I. Frederick sold 3,000 shares of the company’s 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 in the company, valued at $1,207,447.56. This represents a 10.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $35.10, for a total value of $9,301,500.00. Following the sale, the insider now directly owns 15,218,365 shares of the company’s stock, valued at $534,164,611.50. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,581,969 shares of company stock valued at $316,538,582 in the last 90 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Operose Advisors LLC purchased a new position in Tempus AI during the 4th quarter worth $25,000. Farther Finance Advisors LLC bought a new position in shares of Tempus AI during the 4th quarter worth approximately $34,000. 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 worth $36,000 after buying an additional 965 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Tempus AI in the fourth quarter valued at approximately $49,000. Finally, First Horizon Advisors Inc. increased its position in shares of Tempus AI by 207.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock valued at $55,000 after acquiring an additional 1,108 shares during the last quarter. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.