Tempus AI (NASDAQ:TEM) Shares Down 1.3% - Should You Sell?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) dropped 1.3% on Wednesday . The stock traded as low as $55.30 and last traded at $57.78. Approximately 3,867,270 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 5,141,932 shares. The stock had previously closed at $58.57.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Guggenheim reissued a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Piper Sandler lowered their price target on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Morgan Stanley boosted their price objective on shares of Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Wolfe Research lowered shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Bank of America raised their price target on shares of Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.18.

Tempus AI Price Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The business has a fifty day moving average price of $58.38 and a 200-day moving average price of $51.48.

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Insiders Place Their Bets

In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $39.61, for a total transaction of $792,200.00. Following the completion of the sale, the chief operating officer now directly owns 982,442 shares in the company, valued at $38,914,527.62. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Bradley A. Keywell sold 170,720 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $35.45, for a total value of $6,052,024.00. Following the transaction, the insider now directly owns 15,993,729 shares in the company, valued at $566,977,693.05. This trade represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,598,969 shares of company stock valued at $317,194,162 over the last quarter.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Operose Advisors LLC purchased a new position in shares of Tempus AI in the fourth quarter worth $25,000. Farther Finance Advisors LLC bought a new stake in Tempus AI in the 4th quarter worth $34,000. Prestige Wealth Management Group LLC grew its holdings 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 worth $36,000 after acquiring an additional 965 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Tempus AI in the fourth quarter valued at about $49,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Tempus AI by 207.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock valued at $55,000 after acquiring an additional 1,108 shares during the last quarter. 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.