Tempus AI (NASDAQ:TEM) Trading Down 2.3% – Should You Sell?

Shares of Tempus AI, Inc. (NASDAQ:TEM) fell 2.3% during trading on Thursday . The stock traded as low as $57.66 and last traded at $60.81. 8,502,496 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 14,817,857 shares. The stock had previously closed at $62.26.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TEM. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $50.00 to $55.00 in a research report on Tuesday. Needham & Company LLC raised their price target on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday. Bank of America lifted their price objective on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Piper Sandler reiterated a “neutral” rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Finally, William Blair restated a “market perform” rating on shares of Tempus AI in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.55.

Tempus AI Stock Down 11.2 %

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 firm has a fifty day moving average of $51.84 and a 200 day moving average of $52.24.

Insiders Place Their Bets

In related news, CAO Ryan M. Bartolucci sold 13,770 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the transaction, the chief accounting officer now owns 57,237 shares of the company’s stock, valued at $3,434,220. This trade represents a 19.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the completion of the sale, the insider now owns 15,218,365 shares of the company’s stock, valued at approximately $534,164,611.50. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,583,467 shares of company stock valued at $130,542,311 over the last 90 days.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC raised its stake in Tempus AI by 132.1% during the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after purchasing an additional 3,141,487 shares during the period. NEA Management Company LLC grew its stake in shares of Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after buying an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tempus AI by 166.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. lifted its position in Tempus AI by 166.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after acquiring an additional 2,021,394 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after acquiring an additional 1,950,862 shares during the period. 24.22% of the stock is owned by institutional investors and hedge funds.

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.