Tempus AI (NASDAQ:TEM) Shares Down 4.6% After Analyst Downgrade

Shares of Tempus AI, Inc. (NASDAQ:TEM) traded down 4.6% during trading on Tuesday 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 $47.00 and last traded at $48.59. 5,587,735 shares changed hands during trading, an increase of 20% from the average session volume of 4,649,178 shares. The stock had previously closed at $50.93.

Several other brokerages have also commented on TEM. TD Cowen reissued a “buy” rating and set a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Bank of America boosted their target price on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday. Guggenheim reissued a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Needham & Company LLC lifted their price target on Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.73.

Insider Buying and Selling

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total value of $16,999,610.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the transaction, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at approximately $287,615,853.75. This represents a 39.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,823,701 shares of company stock worth $320,906,059.

Institutional Trading of Tempus AI

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Operose Advisors LLC purchased a new position in shares of Tempus AI in the 4th quarter worth about $25,000. First Horizon Advisors Inc. acquired a new stake in Tempus AI during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC purchased a new position in Tempus AI in the fourth quarter valued at approximately $34,000. Prestige Wealth Management Group LLC lifted its position in Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after buying an additional 965 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in Tempus AI during the fourth quarter valued at approximately $49,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Tempus AI Stock Up 3.5 %

The firm’s 50 day simple moving average is $53.02 and its 200-day simple moving average is $52.55. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

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.