Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares traded down 1.4% during mid-day trading on Tuesday . The company traded as low as $58.35 and last traded at $58.16. 6,469,384 shares changed hands during trading, a decline of 53% from the average session volume of 13,663,560 shares. The stock had previously closed at $59.00.
Analysts Set New Price Targets
A number of brokerages recently weighed in on TEM. Bank of America raised their target price on shares of Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Needham & Company LLC lifted their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Morgan Stanley upped their target price on shares of Tempus AI from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. TD Cowen restated a "buy" rating and set a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, Loop Capital cut their price objective on Tempus AI from $57.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Tempus AI currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.18.
Read Our Latest Stock Report on TEM
Tempus AI Stock Down 9.1 %
The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The business has a 50 day moving average price of $57.78 and a two-hundred day moving average price of $51.47.
Insider Buying and Selling at Tempus AI
In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the transaction, the chief accounting officer now directly owns 57,237 shares of the company's stock, valued at approximately $3,434,220. The trade was a 19.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew Polovin sold 13,135 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the sale, the executive vice president now directly owns 154,171 shares of the company's stock, valued at $7,088,782.58. The trade was a 7.85 % 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 quarter.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the 3rd quarter worth approximately $30,000. The Manufacturers Life Insurance Company boosted its position in shares of Tempus AI by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company's stock valued at $1,686,000 after purchasing an additional 2,765 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Tempus AI in the third quarter worth $2,726,000. NEA Management Company LLC raised its holdings in Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company's stock worth $304,846,000 after purchasing an additional 813,169 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new position in Tempus AI in the third quarter worth $725,000. 24.22% of the stock is currently owned by institutional investors.
Tempus AI Company Profile
(
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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.
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