Tempus AI (NASDAQ:TEM) Shares Gap Down – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) gapped down prior to trading on Monday . The stock had previously closed at $65.49, but opened at $61.88. Tempus AI shares last traded at $62.33, with a volume of 3,818,153 shares.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TEM. TD Cowen reissued a “buy” rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Piper Sandler increased their price target on shares of Tempus AI from $55.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Bank of America increased their price target on shares of Tempus AI from $48.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. cut shares of Tempus AI from an “overweight” rating to a “neutral” rating and increased their price target for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. Finally, Morgan Stanley increased their price target on shares of Tempus AI from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.42.

Tempus AI Trading Down 2.1%

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The stock has a market cap of $10.75 billion and a price-to-earnings ratio of -8.00. The company’s fifty day moving average price is $50.82 and its 200-day moving average price is $51.96.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. The business had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The company’s revenue was up 75.4% on a year-over-year basis. On average, research analysts expect that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Insider Activity

In related news, COO Ryan Fukushima sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $51.15, for a total transaction of $1,023,000.00. Following the completion of the sale, the chief operating officer now directly owns 924,460 shares of the company’s stock, valued at approximately $47,286,129. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $45.54, for a total value of $136,620.00. Following the sale, the director now directly owns 26,514 shares of the company’s stock, valued at $1,207,447.56. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,883,543 shares of company stock worth $222,961,144 in the last quarter. Corporate insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On Tempus AI

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Tempus AI by 6,247.5% in the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company’s stock valued at $289,204,000 after buying an additional 5,900,668 shares during the period. ARK Investment Management LLC boosted its stake in shares of Tempus AI by 132.1% in the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after buying an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in shares of Tempus AI by 166.0% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after buying an additional 1,950,862 shares during the period. 24.22% of the stock is owned by institutional investors and hedge funds.

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.