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

Shares of Tempus AI, Inc. (NASDAQ:TEM) fell 6.2% during mid-day trading on Thursday following insider selling activity. The company traded as low as $45.41 and last traded at $46.79. 4,104,211 shares changed hands during mid-day trading, a decline of 22% from the average session 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 business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $45.54, for a total value of $136,620.00. Following the completion of the sale, the director now directly owns 26,514 shares in the company, valued at approximately $1,207,447.56. The trade was a 10.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEM. Loop Capital lowered their target price 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. Guggenheim reissued a “buy” 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 report on Wednesday, February 26th. Morgan Stanley raised their price target on Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, Needham & Company LLC upped their price objective on Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.18.

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 50 day moving average is $58.27 and its 200 day moving average is $51.43.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently modified their holdings of TEM. GF Fund Management CO. LTD. purchased a new stake 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 about $11,826,000. Two Sigma Advisers LP acquired a new position in shares of Tempus AI in the fourth quarter worth about $625,000. ProShare Advisors LLC purchased a new position in shares of Tempus AI in the fourth quarter worth approximately $244,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Tempus AI during the fourth quarter valued at approximately $1,034,000. 24.22% of the stock is owned by 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.