Tempus AI (NASDAQ:TEM) Stock Price Down 5.3% - What's Next?

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) dropped 5.3% on Thursday . The stock traded as low as $42.71 and last traded at $43.09. Approximately 4,113,447 shares were traded during trading, a decline of 16% from the average daily volume of 4,873,981 shares. The stock had previously closed at $45.50.

Analyst Upgrades and Downgrades

TEM has been the topic of a number of recent analyst reports. Piper Sandler decreased their price target on Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. cut 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 research report on Tuesday, February 25th. Loop Capital decreased their price target on Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. TD Cowen restated a "buy" rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, Bank of America raised their price target on Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.18.

Tempus AI Trading Up 11.9 %

The firm has a 50 day moving average of $55.33 and a two-hundred day moving average of $51.71. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

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Insider Activity

In other news, CEO Eric P. Lefkofsky sold 562,345 shares of Tempus AI stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $50.93, for a total transaction of $28,640,230.85. Following the sale, the chief executive officer now directly owns 9,457,283 shares of the company's stock, valued at approximately $481,659,423.19. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew Polovin sold 1,130 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $40.23, for a total value of $45,459.90. Following the transaction, the executive vice president now owns 244,955 shares of the company's stock, valued at $9,854,539.65. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,755,906 shares of company stock valued at $322,788,693.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds have recently made changes to their positions in TEM. ARK Investment Management LLC increased its holdings in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock worth $186,343,000 after purchasing an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Tempus AI by 166.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Franklin Resources Inc. increased its holdings in Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after purchasing an additional 1,950,862 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock worth $55,836,000 after purchasing an additional 1,651,996 shares in the last quarter. 24.22% of the stock is currently owned by 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.