Tempus AI (NASDAQ:TEM) Trading Down 14.5% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) shares were down 14.5% on Thursday . The stock traded as low as $72.25 and last traded at $73.25. Approximately 12,344,723 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 14,108,291 shares. The stock had previously closed at $85.71.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TEM shares. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the company from $45.00 to $65.00 in a report on Monday, November 11th. Piper Sandler reiterated a “neutral” rating and issued a $70.00 price target (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research note on Tuesday, January 14th. TD Cowen reissued a “buy” rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Finally, Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.55.

Tempus AI Price Performance

The business’s 50-day moving average is $49.05 and its two-hundred day moving average is $51.26. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Buying and Selling

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the company’s stock in a transaction dated 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 $10,431,543.15. This represents a 17.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were 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. In the last three months, insiders sold 2,401,779 shares of company stock valued at $115,707,361.

Hedge Funds Weigh In On Tempus AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI in the 3rd quarter valued at about $30,000. Operose Advisors LLC acquired a new stake in shares of Tempus AI in the 4th quarter valued at about $25,000. Farther Finance Advisors LLC acquired a new stake in shares of Tempus AI in the 4th quarter valued at about $34,000. Prestige Wealth Management Group LLC raised its stake in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Tempus AI in the 4th quarter valued at about $49,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.