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

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $37.52, but opened at $33.69. Tempus AI shares last traded at $32.24, with a volume of 1,851,924 shares changing hands.

Analysts Set New Price Targets

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

Tempus AI Trading Down 13.8 %

The company has a fifty day simple moving average of $48.28 and a two-hundred day simple moving average of $47.27. 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 Activity at Tempus AI

In related news, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the sale, the insider now owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David R. Epstein sold 620 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the completion of the transaction, the director now directly owns 27,894 shares of the company's stock, valued at $1,166,248.14. The trade was a 2.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,041 shares of company stock valued at $35,917,673.

Hedge Funds Weigh In On Tempus AI

Institutional investors have recently modified their holdings of the company. NEA Management Company LLC purchased a new stake in Tempus AI in the 2nd quarter valued at about $160,048,000. Novo Holdings A S acquired a new position in Tempus AI during the second quarter worth approximately $142,605,000. ARK Investment Management LLC increased its position in Tempus AI by 355.0% during the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company's stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company's stock worth $68,922,000 after purchasing an additional 1,145,698 shares during the period. Finally, Lingotto Investment Management LLP purchased a new stake in shares of Tempus AI during the 2nd quarter valued at $32,685,000. Institutional investors and hedge funds own 24.22% of the company's stock.

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.