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

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s share price traded down 4.6% during mid-day 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. 5,587,735 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 4,649,178 shares. The stock had previously closed at $50.93.

Several other brokerages also recently weighed in on TEM. Loop Capital cut their price objective on shares of Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Needham & Company LLC lifted their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Bank of America lifted their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut shares of Tempus AI from an "overweight" rating to a "neutral" rating and raised their target price for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Tempus AI currently has a consensus rating of "Moderate Buy" and an average price target of $61.18.

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Insider Transactions at Tempus AI

In other news, Director David R. Epstein sold 620 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total value of $25,922.20. Following the transaction, the director now directly owns 27,894 shares of the company's stock, valued at $1,166,248.14. This trade represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer A. Doudna sold 1,320 shares of Tempus AI stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $90.00, for a total transaction of $118,800.00. Following the completion of the transaction, the director now directly owns 36,011 shares in the company, valued at approximately $3,240,990. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,406,855 shares of company stock valued at $350,610,637 over the last ninety days.

Institutional Trading of Tempus AI

Institutional investors have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tempus AI during the third quarter worth approximately $1,367,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tempus AI during the fourth quarter worth approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 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. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Tempus AI during the fourth quarter worth approximately $178,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Tempus AI during the third quarter worth approximately $2,726,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Tempus AI Stock Up 0.5 %

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The firm's fifty day moving average is $54.02 and its 200 day moving average is $52.54.

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.