Tempus AI (NASDAQ:TEM) Shares Down 1.6% – Here’s Why

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler lifted their target price on Tempus AI from $55.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. William Blair reissued a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Morgan Stanley upped their price objective on Tempus AI from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, BTIG Research assumed coverage on shares of Tempus AI in a report on Monday, April 21st. They issued a “buy” rating and a $60.00 target price on the stock. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.42.

Tempus AI Price Performance

The business’s fifty day simple moving average is $56.60 and its 200-day simple moving average is $52.38. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The firm has a market cap of $12.00 billion and a P/E ratio of -8.85.

Tempus AI (NASDAQ:TEM) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. The company had revenue of $255.74 million during the quarter, compared to analysts’ expectations of $248.13 million. Tempus AI’s revenue was up 75.4% on a year-over-year basis. As a group, analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Insider Activity at Tempus AI

In related news, Director Theodore Leonsis sold 205,847 shares of Tempus AI stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total value of $13,927,608.02. Following the completion of the sale, the director now directly owns 15,511 shares in the company, valued at approximately $1,049,474.26. This trade represents a 92.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 308,580 shares of company stock worth $20,156,721 in the last 90 days. Company insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Tempus AI

Institutional investors and hedge funds have recently modified their holdings of the stock. Cherry Tree Wealth Management LLC bought a new stake in shares of Tempus AI in the 1st quarter worth about $31,000. University of Texas Texas AM Investment Management Co. purchased a new position in Tempus AI during the first quarter worth $33,000. Operose Advisors LLC purchased a new position in shares of Tempus AI during the fourth quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC lifted its stake in shares of Tempus AI by 100.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company’s stock worth $39,000 after acquiring an additional 400 shares during the last quarter. Finally, Nemes Rush Group LLC purchased a new stake in Tempus AI in the first quarter worth $39,000. Institutional investors own 24.22% of the company’s stock.

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.