Tempus AI (NASDAQ:TEM) Shares Gap Down – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) gapped down before the market opened on Monday . The stock had previously closed at $65.49, but opened at $61.88. Tempus AI shares last traded at $62.33, with a volume of 3,818,153 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BTIG Research assumed coverage on Tempus AI in a research note on Monday, April 21st. They issued a “buy” rating and a $60.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Tempus AI in a research note on Wednesday, May 7th. Guggenheim reiterated a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. William Blair reiterated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Piper Sandler boosted their price objective on Tempus AI from $55.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Tempus AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.42.

Tempus AI Stock Down 2.1%

The stock has a market cap of $10.75 billion and a PE ratio of -8.00. The business has a 50 day simple moving average of $50.82 and a 200 day simple moving average of $51.96. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

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

Insider Activity

In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of Tempus AI stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total value of $1,047,200.00. Following the sale, the chief operating officer now owns 884,460 shares of the company’s stock, valued at $46,310,325.60. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of Tempus AI stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the sale, the chief executive officer now directly owns 4,895,589 shares in the company, valued at approximately $287,615,853.75. This represents a 39.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,883,543 shares of company stock valued at $222,961,144. Company insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its holdings in shares of Tempus AI by 12.7% during the first quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company’s stock worth $89,000 after buying an additional 208 shares in the last quarter. Wells Fargo & Company MN lifted its position in Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after acquiring an additional 278 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in Tempus AI by 100.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company’s stock valued at $39,000 after acquiring an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tempus AI by 10.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,594 shares of the company’s stock valued at $268,000 after acquiring an additional 515 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC bought a new position in shares of Tempus AI during the 1st quarter worth approximately $31,000. 24.22% of the stock is currently owned by 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.