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

Tempus AI, Inc. (NASDAQ:TEM) shares dropped 3.1% during trading 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. Approximately 4,774,047 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 4,698,148 shares. The stock had previously closed at $52.73.

TEM has been the subject of several other reports. Guggenheim restated a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and raised their target price for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Loop Capital lowered their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, 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 report on Monday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.73.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 3,240,234 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the completion of the transaction, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at approximately $287,615,853.75. This represents a 39.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction that occurred 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 owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,823,701 shares of company stock valued at $320,906,059 over the last 90 days.

Hedge Funds Weigh In On Tempus AI

Several institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC raised its position in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after buying an additional 1,855,459 shares in the last quarter. Sigma Planning Corp bought a new stake in Tempus AI during the third quarter worth approximately $1,323,000. GSA Capital Partners LLP purchased a new stake in Tempus AI during the third quarter valued at approximately $306,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Tempus AI by 1,591.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after purchasing an additional 1,145,698 shares during the last quarter. Finally, First Horizon Advisors Inc. bought a new stake in shares of Tempus AI in the 3rd quarter valued at approximately $30,000. Institutional investors own 24.22% of the company’s stock.

Tempus AI Price Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The stock has a fifty day moving average price of $53.38 and a 200 day moving average price of $52.56.

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.