Tempus AI (NASDAQ:TEM) Shares Down 6.2% on Insider Selling

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares dropped 6.2% on Thursday following insider selling activity. The company traded as low as $45.41 and last traded at $46.79. Approximately 4,104,211 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 5,279,708 shares. The stock had previously closed at $49.89.

Specifically, Director Wayne A.I. Frederick sold 3,000 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $45.54, for a total transaction of $136,620.00. Following the completion of the transaction, the director now directly owns 26,514 shares of the company's stock, valued at approximately $1,207,447.56. This represents a 10.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TEM shares. Bank of America boosted their target price on Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Guggenheim restated a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Morgan Stanley increased 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, March 6th. Piper Sandler reduced their price target 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, March 4th. Finally, William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Tempus AI presently has an average rating of "Moderate Buy" and an average price target of $61.18.

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Tempus AI Stock Performance

The company has a 50-day moving average of $58.27 and a 200-day moving average of $51.43. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently modified their holdings of the stock. Operose Advisors LLC purchased a new position in Tempus AI in the 4th quarter valued at $25,000. Farther Finance Advisors LLC purchased a new stake in shares of Tempus AI in the fourth quarter valued at about $34,000. 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 acquiring an additional 965 shares during the period. NewEdge Advisors LLC purchased a new position in Tempus AI during the fourth quarter worth about $49,000. Finally, First Horizon Advisors Inc. raised its holdings in Tempus AI by 207.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock worth $55,000 after purchasing an additional 1,108 shares in the last quarter. Hedge funds and other institutional investors own 24.22% of the company's stock.

About Tempus AI

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.