Tempus AI (NASDAQ:TEM) Shares Down 3.1% Following Analyst Downgrade

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares traded down 3.1% on Wednesday 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 $49.35 and last traded at $51.11. 4,774,047 shares traded hands during trading, an increase of 2% from the average session volume of 4,698,148 shares. The stock had previously closed at $52.73.

A number of other research analysts also recently weighed in on TEM. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Bank of America upped their price target on Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Stifel Nicolaus downgraded Tempus AI from a "buy" rating to a "hold" rating and increased their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Needham & Company LLC boosted their target price on shares of Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $61.18.

Insider Buying and Selling

In other Tempus AI news, CEO Eric P. Lefkofsky sold 562,345 shares of Tempus AI stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $50.93, for a total value of $28,640,230.85. Following the completion of the sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the transaction, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. The trade was a 2.39 % 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 worth $350,610,637 in the last quarter.

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Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently bought and sold shares of TEM. Kovitz Investment Group Partners LLC purchased a new position in shares of Tempus AI during the third quarter valued at approximately $1,367,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tempus AI during the 4th quarter valued at $1,091,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company's stock worth $68,922,000 after acquiring an additional 1,145,698 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Tempus AI during the fourth quarter valued at $178,000. Finally, Captrust Financial Advisors bought a new position in Tempus AI in the third quarter valued at about $2,726,000. Institutional investors own 24.22% of the company's stock.

Tempus AI Stock Performance

The firm has a 50-day simple moving average of $54.02 and a 200-day simple moving average of $52.54. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

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.