Tempus AI (NASDAQ:TEM) Trading Down 7.6% - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) was down 7.6% on Friday . The company traded as low as $47.67 and last traded at $48.00. Approximately 4,368,169 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 5,195,375 shares. The stock had previously closed at $51.97.

Wall Street Analyst Weigh In

Several research analysts have commented on TEM shares. Wolfe Research downgraded Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. TD Cowen reissued a "buy" rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Finally, Loop Capital decreased their price objective on shares of Tempus AI from $57.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tempus AI presently has a consensus rating of "Moderate Buy" and an average target price of $61.18.

Tempus AI Trading Up 0.9 %

The firm's fifty day moving average price is $58.38 and its two-hundred day moving average price is $51.56. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Activity at Tempus AI

In related news, COO Ryan Fukushima sold 20,000 shares of Tempus AI stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $39.61, for a total value of $792,200.00. Following the completion of the sale, the chief operating officer now owns 982,442 shares of the company's stock, valued at approximately $38,914,527.62. This trade represents a 2.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jennifer A. Doudna sold 1,320 shares of the company's stock in a transaction 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 transaction, the director now owns 36,011 shares in the company, valued at approximately $3,240,990. The trade was a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,598,969 shares of company stock valued at $317,194,162 in the last three months.

Hedge Funds Weigh In On Tempus AI

Large investors have recently added to or reduced their stakes in the business. Operose Advisors LLC purchased a new stake in shares of Tempus AI in the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC bought a new stake in Tempus AI during the fourth quarter worth $34,000. Prestige Wealth Management Group LLC raised its position in Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after buying an additional 965 shares during the last quarter. NewEdge Advisors LLC bought a new position in Tempus AI during the 4th quarter valued at $49,000. Finally, First Horizon Advisors Inc. boosted its holdings in Tempus AI by 207.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock worth $55,000 after acquiring an additional 1,108 shares during the last quarter. Institutional investors 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.