Tempus AI (NASDAQ:TEM) Stock Price Down 4.5% - Time to Sell?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price dropped 4.5% during trading on Monday . The company traded as low as $57.19 and last traded at $58.22. Approximately 4,040,011 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 7,408,648 shares. The stock had previously closed at $60.97.

Wall Street Analysts Forecast Growth

TEM has been the subject of a number of research reports. Bank of America lifted their price target on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Piper Sandler lifted their price target on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. BTIG Research initiated coverage on Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 price target for the company. Morgan Stanley lifted their price target on Tempus AI from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Guggenheim lifted their price target on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Tempus AI has a consensus rating of "Moderate Buy" and a consensus target price of $63.67.

Tempus AI Stock Performance

The stock has a fifty day moving average price of $62.61 and a two-hundred day moving average price of $54.42. The company has a market cap of $10.12 billion and a P/E ratio of -7.50. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.71 and a quick ratio of 1.56.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.03. The company had revenue of $255.74 million for 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 for the quarter was up 75.4% on a year-over-year basis. On average, equities analysts forecast that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Activity at Tempus AI

In related news, Director Theodore Leonsis sold 205,847 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total transaction of $13,927,608.02. Following the sale, the director owned 15,511 shares of the company's stock, valued at $1,049,474.26. The trade was a 92.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Erik Phelps sold 51,317 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $72.56, for a total value of $3,723,561.52. Following the sale, the executive vice president directly owned 97,779 shares in the company, valued at approximately $7,094,844.24. The trade was a 34.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 607,522 shares of company stock valued at $41,300,238. Company insiders own 27.60% of the company's stock.

Institutional Investors Weigh In On Tempus AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in Tempus AI during the fourth quarter worth approximately $216,000. Wells Fargo & Company MN raised its holdings in Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock worth $80,000 after purchasing an additional 278 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in Tempus AI in the first quarter worth approximately $535,000. Sumitomo Mitsui Trust Group Inc. grew its position in Tempus AI by 31.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after buying an additional 1,016,384 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in Tempus AI in the fourth quarter worth approximately $244,000. Institutional investors own 24.22% of the company's stock.

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.