Tempus AI (NASDAQ:TEM) Stock Price Down 7.9% - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s share price traded down 7.9% on Monday . The company traded as low as $31.36 and last traded at $34.55. 3,300,319 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 3,431,535 shares. The stock had previously closed at $37.52.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TEM. Stifel Nicolaus lowered Tempus AI from a "buy" rating to a "hold" rating and lifted their price target for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Guggenheim initiated coverage on Tempus AI in a research note on Monday, December 9th. They issued a "buy" rating and a $74.00 price target on the stock. Piper Sandler reissued a "neutral" rating and issued a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Wolfe Research initiated coverage on Tempus AI in a research report on Friday, December 13th. They set an "outperform" rating and a $60.00 price target for the company. Finally, Loop Capital lifted their price objective on Tempus AI from $48.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.

Tempus AI Trading Down 13.8 %

The business has a 50 day moving average of $48.28 and a 200 day moving average of $47.27. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insiders Place Their Bets

In other Tempus AI news, COO Ryan Fukushima sold 120,000 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.51, for a total transaction of $5,101,200.00. Following the completion of the sale, the chief operating officer now directly owns 1,007,207 shares in the company, valued at $42,816,369.57. This represents a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Andrew Polovin sold 51,504 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the sale, the executive vice president now owns 246,085 shares of the company's stock, valued at approximately $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 865,041 shares of company stock valued at $35,917,673 in the last ninety days.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. NEA Management Company LLC bought a new stake in Tempus AI in the second quarter valued at $160,048,000. Novo Holdings A S acquired a new stake in Tempus AI during the 2nd quarter worth about $142,605,000. ARK Investment Management LLC boosted its position in shares of Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company's stock worth $134,604,000 after buying an additional 1,855,459 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings 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 valued at $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Finally, Lingotto Investment Management LLP purchased a new stake in shares of Tempus AI during the 2nd quarter worth about $32,685,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

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.