Tempus AI (NASDAQ:TEM) Shares Down 2.4% - What's Next?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price was down 2.4% during trading on Wednesday . The company traded as low as $44.67 and last traded at $44.47. Approximately 5,568,145 shares changed hands during trading, an increase of 15% from the average daily volume of 4,839,058 shares. The stock had previously closed at $45.58.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TEM shares. Piper Sandler lowered their target price on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Bank of America raised their price objective on Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Morgan Stanley upped their target price on Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. downgraded Tempus AI from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Finally, William Blair restated a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.

Tempus AI Stock Performance

The stock has a 50-day moving average of $54.76 and a 200 day moving average of $52.03. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Transactions at Tempus AI

In related news, major shareholder Bradley A. Keywell sold 265,000 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $35.10, for a total value of $9,301,500.00. Following the completion of the transaction, the insider now directly owns 15,218,365 shares in the company, valued at $534,164,611.50. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the sale, the chief executive officer now owns 4,895,589 shares in the company, valued at approximately $287,615,853.75. This represents a 39.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,755,906 shares of company stock worth $322,788,693 over the last 90 days.

Institutional Investors Weigh In On Tempus AI

Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after purchasing an additional 278 shares in the last quarter. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the 3rd quarter valued at approximately $30,000. Geode Capital Management LLC grew its stake in Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company's stock valued at $7,537,000 after acquiring an additional 539 shares during the period. Operose Advisors LLC purchased a new stake in Tempus AI in the 4th quarter worth $25,000. Finally, Prestige Wealth Management Group LLC raised its position in Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after acquiring an additional 965 shares during the period. 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.

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