Tempus AI (NASDAQ:TEM) Shares Down 3.2% - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) fell 3.2% during trading on Wednesday . The stock traded as low as $66.01 and last traded at $66.12. 4,247,768 shares were traded during mid-day trading, a decline of 40% from the average session volume of 7,123,584 shares. The stock had previously closed at $68.28.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TEM shares. Wolfe Research cut shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. BTIG Research initiated coverage on Tempus AI in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 target price on the stock. Morgan Stanley boosted their price target on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Piper Sandler lifted their price objective on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Bank of America boosted their target price on Tempus AI from $68.00 to $70.00 and gave the company a "neutral" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Tempus AI currently has a consensus rating of "Moderate Buy" and an average target price of $63.58.

Tempus AI Price Performance

The firm has a fifty day moving average of $60.18 and a 200 day moving average of $53.00. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $11.71 billion and a P/E ratio of -8.69.

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 the consensus estimate of ($0.27) by $0.03. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. The firm 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. On average, equities research analysts anticipate that Tempus AI, Inc. will post -6.15 EPS for the current year.

Insider Transactions at Tempus AI

In other Tempus AI news, Director Wayne A.I. Frederick sold 3,000 shares of Tempus AI stock in a transaction on Monday, March 31st. The shares were sold at an average price of $45.54, for a total value of $136,620.00. Following the completion of the transaction, the director now directly owns 26,514 shares of the company's stock, valued at $1,207,447.56. This trade represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric P. Lefkofsky sold 250,000 shares of Tempus AI stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the sale, the chief executive officer now owns 9,357,283 shares of the company's stock, valued at $655,664,819.81. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 609,897 shares of company stock worth $41,397,783 in the last three months. Corporate insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Tempus AI by 6,247.5% in the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock worth $289,204,000 after purchasing an additional 5,900,668 shares during the period. ARK Investment Management LLC grew its holdings in Tempus AI by 132.1% during the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock worth $186,343,000 after acquiring an additional 3,141,487 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in 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 worth $109,352,000 after buying an additional 2,021,394 shares in the last quarter. Franklin Resources Inc. raised its holdings in Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after purchasing an additional 1,950,862 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock valued at $55,836,000 after acquiring an additional 1,651,996 shares in the last quarter. 24.22% of the stock is currently 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.