Tempus AI (NASDAQ:TEM) Shares Down 7.9% – Time to Sell?

Tempus AI, Inc. (NASDAQ:TEM)’s share price traded down 7.9% during mid-day trading on Monday . The stock traded as low as $31.36 and last traded at $34.55. 3,300,319 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 3,431,535 shares. The stock had previously closed at $37.52.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TEM shares. Bank of America lifted their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Guggenheim started coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 target price on the stock. Wolfe Research assumed coverage on Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $56.00 target price on shares of Tempus AI in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Tempus AI currently has a consensus rating of “Moderate Buy” and an average target price of $56.36.

Tempus AI Price Performance

The firm’s fifty day moving average price is $47.68 and its 200 day moving average price is $47.26. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Buying and Selling

In related news, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction that occurred on 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 owns 16,164,449 shares in the company, valued at $694,263,084.55. The trade was a 2.39 % 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 187,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the sale, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at $358,780,403.82. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,041 shares of company stock valued at $35,917,673 over the last 90 days.

Hedge Funds Weigh In On Tempus AI

Large investors have recently made changes to their positions in the business. Kovitz Investment Group Partners LLC purchased a new position in Tempus AI during the 3rd quarter worth $1,367,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Tempus AI during the third quarter worth about $2,726,000. Dakota Wealth Management acquired a new position in shares of Tempus AI during the third quarter valued at about $1,185,000. Finally, Sigma Planning Corp acquired a new position in shares of Tempus AI during the third quarter valued at about $1,323,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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.