Tempus AI (NASDAQ:TEM) Stock Price Down 4% - What's Next?

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) fell 4% on Monday . The stock traded as low as $52.82 and last traded at $53.96. 4,352,648 shares changed hands during trading, a decline of 71% from the average session volume of 14,775,680 shares. The stock had previously closed at $56.18.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEM. Morgan Stanley boosted their price target on shares of Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. cut shares of Tempus AI from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $50.00 to $55.00 in a research 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 research report on Tuesday. Needham & Company LLC boosted their price target on shares of Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Finally, Wolfe Research cut shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $61.18.

Tempus AI Stock Performance

The stock's 50-day simple moving average is $54.02 and its 200 day simple moving average is $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.

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Insiders Place Their Bets

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the sale, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric P. Lefkofsky sold 562,345 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $50.93, for a total transaction of $28,640,230.85. Following the sale, the chief executive officer now owns 9,457,283 shares in the company, valued at $481,659,423.19. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,406,855 shares of company stock worth $350,610,637 over the last three months.

Institutional Trading of Tempus AI

A number of institutional investors and hedge funds have recently bought and sold shares of TEM. Wells Fargo & Company MN increased its stake in shares of Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock worth $80,000 after buying an additional 278 shares during the period. First Horizon Advisors Inc. purchased a new stake in shares of Tempus AI during the third quarter worth approximately $30,000. Geode Capital Management LLC increased its stake in shares of Tempus AI by 0.4% during the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company's stock worth $7,537,000 after buying an additional 539 shares during the period. Operose Advisors LLC purchased a new stake in shares of Tempus AI during the fourth quarter worth approximately $25,000. Finally, Prestige Wealth Management Group LLC increased its stake in shares of Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after buying an additional 965 shares during the period. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

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.