Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) traded down 4% on Monday . The stock traded as low as $52.82 and last traded at $53.96. 4,352,648 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 14,775,680 shares. The stock had previously closed at $56.18.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Guggenheim restated a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Wolfe Research cut shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Bank of America upped their target price on shares of Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday. Morgan Stanley upped their target price on shares of Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Piper Sandler dropped their target price on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.
Check Out Our Latest Report on TEM
Tempus AI Price Performance
The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The firm's fifty day moving average price is $53.75 and its 200-day moving average price is $52.57.
Insider Activity
In related news, EVP Andrew Polovin sold 51,504 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the transaction, the executive vice president now directly owns 246,085 shares of the company's stock, valued at approximately $10,431,543.15. This represents a 17.31 % decrease in their position. The sale 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 stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the transaction, the insider now directly owns 16,164,449 shares of the company's stock, 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 sold 5,844,510 shares of company stock valued at $321,970,407 in the last quarter.
Hedge Funds Weigh In On Tempus AI
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC acquired a new position in Tempus AI in the 3rd quarter worth $1,367,000. China Universal Asset Management Co. Ltd. bought a new stake in Tempus AI during the 4th quarter worth about $1,091,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Tempus AI by 1,591.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company's stock worth $68,922,000 after buying an additional 1,145,698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Tempus AI during the 4th quarter worth about $178,000. Finally, Captrust Financial Advisors bought a new stake in Tempus AI during the 3rd quarter worth about $2,726,000. 24.22% of the stock is owned by institutional investors and hedge funds.
About Tempus AI
(
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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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