Tempus AI (NASDAQ:TEM) Stock Price Down 4.6% on Analyst Downgrade

Tempus AI, Inc. (NASDAQ:TEM)’s stock price dropped 4.6% during trading on Tuesday after Piper Sandler lowered their price target on the stock from $70.00 to $55.00. Piper Sandler currently has a neutral rating on the stock. Tempus AI traded as low as $47.00 and last traded at $48.59. Approximately 5,587,735 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 4,649,178 shares. The stock had previously closed at $50.93.

A number of other research firms have also issued reports on TEM. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and increased their price target for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Needham & Company LLC boosted their price target on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Bank of America raised their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Monday. Finally, TD Cowen reiterated a “buy” rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Tempus AI presently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

Insider Activity at Tempus AI

In other Tempus AI news, CAO Ryan M. Bartolucci sold 13,770 shares of Tempus AI stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total value of $826,200.00. Following the transaction, the chief accounting officer now directly owns 57,237 shares in the company, valued at approximately $3,434,220. This trade represents a 19.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the company’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 owns 15,218,365 shares of the company’s stock, valued at $534,164,611.50. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,823,701 shares of company stock worth $320,906,059 in the last 90 days.

Institutional Trading of Tempus AI

Hedge funds have recently made changes to their positions in the company. Kovitz Investment Group Partners LLC purchased a new position in Tempus AI during the third quarter worth about $1,367,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tempus AI during the 4th quarter worth approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Tempus AI by 1,591.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after buying an additional 1,145,698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Tempus AI in the 4th quarter valued at approximately $178,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Tempus AI in the third quarter valued at approximately $2,726,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Trading Up 3.5 %

The stock has a fifty day moving average of $53.02 and a two-hundred day moving average of $52.55. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

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.