Tempus AI (NASDAQ:TEM) Trading Down 7.4% – Should You Sell?
by Danessa Lincoln · The Markets DailyTempus AI, Inc. (NASDAQ:TEM – Get Free Report)’s share price traded down 7.4% on Friday . The stock traded as low as $40.03 and last traded at $42.77. 4,660,289 shares traded hands during trading, a decline of 12% from the average session volume of 5,299,938 shares. The stock had previously closed at $46.17.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. William Blair reiterated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Wolfe Research lowered Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Morgan Stanley increased their price target on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Finally, Bank of America upped their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.18.
Get Our Latest Research Report on TEM
Tempus AI Stock Down 7.8 %
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 firm’s fifty day simple moving average is $58.45 and its 200 day simple moving average is $51.51.
Insider Activity at Tempus AI
In other Tempus AI news, CFO James William Rogers sold 23,030 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $45.97, for a total transaction of $1,058,689.10. Following the completion of the transaction, the chief financial officer now owns 164,750 shares in the company, valued at $7,573,557.50. The trade was a 12.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 3,000 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $45.54, for a total value of $136,620.00. Following the completion of the transaction, the director now directly owns 26,514 shares in the company, valued at $1,207,447.56. This trade represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,601,969 shares of company stock valued at $317,330,782 over the last 90 days.
Institutional Investors Weigh In On Tempus AI
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEM. GF Fund Management CO. LTD. purchased a new position in shares of Tempus AI during the fourth quarter valued at $108,000. Voloridge Investment Management LLC purchased a new stake in Tempus AI during the fourth quarter valued at approximately $11,826,000. Two Sigma Advisers LP acquired a new position in shares of Tempus AI during the fourth quarter worth $625,000. ProShare Advisors LLC purchased a new position in Tempus AI during the 4th quarter worth $244,000. Finally, Lazard Asset Management LLC purchased a new stake in Tempus AI in the fourth quarter valued at about $1,034,000. 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.
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