Tempus AI (NASDAQ:TEM) Shares Down 7.1% - Time to Sell?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price was down 7.1% during trading on Monday . The company traded as low as $53.90 and last traded at $53.00. Approximately 2,511,742 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 5,727,227 shares. The stock had previously closed at $57.06.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TEM. BTIG Research assumed coverage on Tempus AI in a research report on Monday, April 21st. They set a "buy" rating and a $60.00 price target on the stock. William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Wolfe Research downgraded shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. TD Cowen reaffirmed a "buy" rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Tempus AI presently has an average rating of "Moderate Buy" and an average price target of $61.08.

Tempus AI Stock Performance

The firm's 50-day moving average is $48.11 and its 200-day moving average is $50.66. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Transactions at Tempus AI

In other news, Director Wayne A.I. Frederick sold 3,000 shares of Tempus AI stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $45.54, for a total transaction of $136,620.00. Following the completion of the transaction, the director now directly owns 26,514 shares in the company, valued at approximately $1,207,447.56. This trade represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Polovin sold 13,135 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the sale, the executive vice president now owns 154,171 shares in the company, valued at $7,088,782.58. The trade was a 7.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,408,938 shares of company stock valued at $262,986,880. Corporate insiders own 27.60% of the company's stock.

Institutional Trading of Tempus AI

Institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC grew its holdings in shares of Tempus AI by 132.1% during the fourth 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 last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Tempus AI by 31.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after purchasing an additional 1,016,384 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Tempus AI by 240.5% during the fourth 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 last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Tempus AI by 86,947.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock worth $55,836,000 after buying an additional 1,651,996 shares in the last quarter. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.

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