Tempus AI (NASDAQ:TEM) Trading Down 1.6% - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price fell 1.6% during mid-day trading on Tuesday . The company traded as low as $68.92 and last traded at $70.85. 3,358,029 shares changed hands during trading, a decline of 52% from the average session volume of 7,004,383 shares. The stock had previously closed at $72.00.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TEM. BTIG Research began coverage on shares of Tempus AI in a research report on Monday, April 21st. They set a "buy" rating and a $60.00 price target on the stock. Wolfe Research lowered shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Morgan Stanley boosted their price target on shares of Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered Tempus AI from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Finally, Piper Sandler lifted their target price on Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.42.

Tempus AI Price Performance

The stock has a fifty day simple moving average of $58.73 and a 200-day simple moving average of $52.74. The company has a market capitalization of $11.83 billion and a PE ratio of -8.76. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its 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 firm had revenue of $255.74 million during the quarter, compared to analysts' expectations of $248.13 million. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. The business's revenue was up 75.4% on a year-over-year basis. Equities analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 3,000 shares of the business'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 completion of the sale, the director now directly owns 26,514 shares of the company's stock, valued at approximately $1,207,447.56. The trade was a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Polovin sold 17,552 shares of Tempus AI stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $63.43, for a total value of $1,113,323.36. Following the transaction, the executive vice president now directly owns 138,877 shares in the company, valued at approximately $8,808,968.11. This trade represents a 11.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 609,897 shares of company stock worth $41,397,783. Corporate insiders own 27.60% of the company's stock.

Hedge Funds Weigh In On Tempus AI

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new position in Tempus AI in the 4th quarter valued at about $216,000. Wells Fargo & Company MN increased its holdings in shares of Tempus AI by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after purchasing an additional 278 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in shares of Tempus AI during the first quarter worth approximately $535,000. ProShare Advisors LLC acquired a new stake in shares of Tempus AI during the fourth quarter worth $244,000. Finally, Avanza Fonder AB lifted its holdings in shares of Tempus AI by 15.8% during the first quarter. Avanza Fonder AB now owns 41,005 shares of the company's stock worth $2,047,000 after purchasing an additional 5,591 shares during the period. 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.