Tempus AI (NASDAQ:TEM) Stock Price Down 15.1% - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares fell 15.1% during mid-day trading on Wednesday . The stock traded as low as $53.92 and last traded at $55.92. 24,035,614 shares were traded during mid-day trading, an increase of 270% from the average session volume of 6,497,447 shares. The stock had previously closed at $65.87.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEM. William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. BTIG Research began coverage on shares of Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 price objective on the stock. Bank of America lifted their price objective on shares of Tempus AI from $48.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Morgan Stanley lifted their price objective 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Tempus AI presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.42.

Tempus AI Stock Performance

The firm's 50-day moving average price is $52.24 and its two-hundred day moving average price is $52.15. The firm has a market capitalization of $9.60 billion and a PE ratio of -7.16. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS 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. The firm's revenue was up 75.4% compared to the same quarter last year. As a group, research analysts predict that Tempus AI, Inc. will post -6.15 earnings per share for the current fiscal year.

Insider Activity at Tempus AI

In related news, EVP Andrew Polovin sold 17,552 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $63.43, for a total transaction of $1,113,323.36. Following the transaction, the executive vice president now directly owns 138,877 shares of the company's stock, valued at approximately $8,808,968.11. The trade was a 11.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Ryan M. Bartolucci sold 6,073 shares of Tempus AI stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $63.23, for a total transaction of $383,995.79. Following the completion of the sale, the chief accounting officer now owns 47,799 shares of the company's stock, valued at $3,022,330.77. This trade represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 723,042 shares of company stock valued at $37,642,690. Corporate insiders own 27.60% of the company's stock.

Institutional Trading of Tempus AI

Large investors have recently added to or reduced their stakes in the business. Operose Advisors LLC bought a new stake in Tempus AI in the fourth quarter worth approximately $25,000. Cherry Tree Wealth Management LLC bought a new stake in Tempus AI in the first quarter worth approximately $31,000. University of Texas Texas AM Investment Management Co. bought a new stake in Tempus AI in the first quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new stake in Tempus AI in the fourth quarter worth approximately $34,000. Finally, Prestige Wealth Management Group LLC grew its position in Tempus AI by 910.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after acquiring an additional 965 shares in the last quarter. 24.22% of the stock is owned by institutional investors.

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.