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

Tempus AI, Inc. (NASDAQ:TEM)’s share price traded down 3.1% 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. 4,774,047 shares were traded during mid-day trading, an increase of 2% from the average session volume of 4,698,148 shares. The stock had previously closed at $52.73.

Several other equities research analysts also recently weighed in on the company. Bank of America increased their price target on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Wolfe Research lowered shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Loop Capital cut their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Guggenheim reiterated a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.73.

Insiders Place Their Bets

In other Tempus AI news, major shareholder Bradley A. Keywell sold 265,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the completion of the sale, the insider now owns 15,218,365 shares in the company, valued at $534,164,611.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David R. Epstein sold 620 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total value of $25,922.20. Following the sale, the director now directly owns 27,894 shares in the company, valued at $1,166,248.14. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,823,701 shares of company stock worth $320,906,059 in the last three months.

Hedge Funds Weigh In On Tempus AI

A number of large investors have recently added to or reduced their stakes in TEM. Wells Fargo & Company MN grew its position in shares of Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after buying an additional 278 shares during the last quarter. First Horizon Advisors Inc. acquired a new stake in Tempus AI in the third quarter valued at approximately $30,000. Geode Capital Management LLC grew its holdings in Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after purchasing an additional 539 shares during the last quarter. Operose Advisors LLC purchased a new position in Tempus AI in the fourth quarter worth $25,000. Finally, Prestige Wealth Management Group LLC increased its position in shares of Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after purchasing an additional 965 shares in the last quarter. 24.22% of the stock is currently owned by institutional investors.

Tempus AI Stock Up 0.6 %

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 has a fifty day moving average price of $53.38 and a 200 day moving average price of $52.56.

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.