Tempus AI (NASDAQ:TEM) Shares Gap Down – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $49.87, but opened at $47.79. Tempus AI shares last traded at $46.51, with a volume of 2,005,129 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TEM shares. Needham & Company LLC upped their price target on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Morgan Stanley increased their target price on Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Wolfe Research cut shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. William Blair restated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Finally, Loop Capital cut their price objective 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Performance

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The business has a 50-day moving average price of $55.51 and a two-hundred day moving average price of $51.60.

Insider Activity

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the completion of the sale, the chief accounting officer now directly owns 57,237 shares of the company’s stock, valued at $3,434,220. This trade represents a 19.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the transaction, the chief executive officer now directly owns 4,895,589 shares in the company, valued at $287,615,853.75. The trade was a 39.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,749,469 shares of company stock valued at $322,529,733.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI during the 3rd quarter worth approximately $30,000. Operose Advisors LLC bought a new position in Tempus AI in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC acquired a new stake in Tempus AI during the 4th quarter worth $34,000. Prestige Wealth Management Group LLC raised its position in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after acquiring an additional 965 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Tempus AI in the 4th quarter valued at $49,000. Institutional investors own 24.22% of the company’s stock.

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.