Tempus AI (NASDAQ:TEM) Shares Down 6.2% on Insider Selling
Tempus AI, Inc. (NASDAQ:TEM) experienced a 6.2% decline in its stock price during mid-day trading on Thursday following an insider selling shares. The stock traded as low as $45.41 before settling at $46.79. A total of 4,104,211 shares were exchanged during the trading session, a 22% decrease from the average daily volume.
Tempus AI, Inc. (NASDAQ: TEM) experienced a 6.2% decline during mid-day trading on Thursday following an insider selling shares in the company. The stock traded as low as $45.41 and last traded at $46.79. A total of 4,104,211 shares changed hands during mid-day trading, representing a 22% decrease from the average daily volume of 5,279,708 shares. The stock had closed at $49.89 previously. Specifically, Director Wayne A.I. Frederick sold 3,000 shares of the company's stock on Monday, March 31st, at an average price of $45.54, totaling $136,620.00. Following this transaction, the director now owns 26,514 shares of the company's stock valued at $1,207,447.56, indicating a 10.16% decrease in ownership.
Wall Street Analyst Weigh In
Tempus AI has been the subject of several recent analyst reports. Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating on Wednesday, February 26th. Bank of America raised their price target on Tempus AI from $54.00 to $60.00 and assigned the company a “neutral” rating on Monday, March 3rd. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating, increasing their target price from $50.00 to $55.00 on Tuesday, February 25th. William Blair reiterated a “market perform” rating on Tempus AI on Tuesday, February 25th. Additionally, Morgan Stanley raised their price target on Tempus AI from $50.00 to $60.00, giving the company an “overweight” rating on Thursday, March 6th. Currently, six research analysts have rated the stock as a hold, while six have rated it as a buy. The stock has an average rating of “Moderate Buy” and a consensus price target of $61.18 according to MarketBeat.com.
Tempus AI Price Performance
Tempus AI has a fifty-day moving average price of $58.45 and a 200-day moving average price of $51.51. The company maintains a current ratio of 2.69, a quick ratio of 2.55, and a debt-to-equity ratio of 8.17.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of Tempus AI. For example, Kovitz Investment Group Partners LLC acquired a new position in Tempus AI in the 3rd quarter, valued at $1,367,000. Victory Capital Management Inc. bought shares in the 4th quarter valued at $216,000. China Universal Asset Management Co. Ltd. purchased a new position in the fourth quarter valued at approximately $1,091,000. Mirae Asset Global Investments Co. Ltd. also acquired a new position in Tempus AI during the fourth quarter, worth about $178,000. Finally, Captrust Financial Advisors purchased a new stake in the third quarter worth about $2,726,000. Institutional investors and hedge funds collectively own 24.22% of the company's stock.
Tempus AI Inc. is a technology company focused on advancing precision medicine through the practical application of artificial intelligence, particularly in healthcare. The company offers AI-enabled precision medicine solutions to physicians for personalized patient care and supports the discovery, development, and delivery of optimal therapeutics.