Tempus AI (NASDAQ:TEM) Trading Down 7.4% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) shares were down 7.4% during mid-day trading on Friday . The stock traded as low as $40.03 and last traded at $42.77. Approximately 4,660,289 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 5,299,938 shares. The stock had previously closed at $46.17.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Loop Capital decreased their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley increased their price objective on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, TD Cowen restated a “buy” rating and issued a $74.00 price objective (up previously 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 six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Stock 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 stock has a 50 day moving average price of $58.27 and a two-hundred day moving average price of $51.45.

Insider Buying and Selling at Tempus AI

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $60.00, for a total value of $826,200.00. Following the completion of the transaction, the chief accounting officer now owns 57,237 shares of the company’s stock, valued at $3,434,220. The trade was a 19.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer A. Doudna sold 1,320 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $90.00, for a total value of $118,800.00. Following the sale, the director now directly owns 36,011 shares in the company, valued at $3,240,990. The trade was a 3.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,601,969 shares of company stock valued at $317,330,782.

Institutional Trading of Tempus AI

Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in shares of Tempus AI by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after acquiring an additional 2,765 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Tempus AI in the 3rd quarter worth $725,000. Stifel Financial Corp bought a new position in Tempus AI during the 3rd quarter worth about $218,000. Kovitz Investment Group Partners LLC bought a new stake in shares of Tempus AI in the third quarter valued at about $1,367,000. Finally, XTX Topco Ltd acquired a new position in shares of Tempus AI during the third quarter worth about $502,000. 24.22% of the stock is currently 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.