Shares of Tempus AI, Inc. (NASDAQ:TEM – Get Free Report) dropped 6.2% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $45.41 and last traded at $46.79. Approximately 4,104,211 shares changed hands during trading, a decline of 22% from the average daily 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 firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $45.54, for a total transaction of $136,620.00. Following the sale, the director now owns 26,514 shares of the company’s stock, valued at $1,207,447.56. This trade represents a 10.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Wall Street Analysts Forecast Growth
TEM has been the subject of several research reports. Bank of America increased their target price on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Guggenheim reiterated a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. TD Cowen restated a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Morgan Stanley lifted their price target on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, William Blair restated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.18.
Tempus AI Price Performance
The stock has a fifty day simple moving average of $58.62 and a two-hundred day simple moving average of $51.55. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.
Institutional Investors Weigh In On Tempus AI
Several large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in shares of Tempus AI during the 4th quarter worth approximately $108,000. Voloridge Investment Management LLC bought a new position in Tempus AI during the fourth quarter worth $11,826,000. Two Sigma Advisers LP acquired a new stake in Tempus AI in the fourth quarter worth $625,000. ProShare Advisors LLC bought a new stake in Tempus AI in the fourth quarter valued at $244,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Tempus AI during the fourth quarter valued at about $1,034,000. Institutional investors and hedge funds 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.
Further Reading
- Five stocks we like better than Tempus AI
- Most active stocks: Dollar volume vs share volume
- Cathie Wood Loads Up on Baidu—Is It the Right Time to Buy?
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Big Buybacks: 3 Large Caps Exceed 5% Repurchase Power
- What is the Dogs of the Dow Strategy? Overview and Examples
- NVIDIA vs Qualcomm: Which Is the Better Buy for Q2?
Receive News & Ratings for Tempus AI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tempus AI and related companies with MarketBeat.com's FREE daily email newsletter.
