Tempus AI (NASDAQ:TEM) Stock Price Up 11.7% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s share price rose 11.7% during trading on Wednesday . The stock traded as high as $35.66 and last traded at $35.54. Approximately 1,205,110 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 3,677,894 shares. The stock had previously closed at $31.83.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEM. Piper Sandler reiterated a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Guggenheim started coverage on shares of Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $56.00 target price on shares of Tempus AI in a research note on Tuesday. Finally, Bank of America lifted their price objective on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.36.

Tempus AI Price Performance

The firm’s fifty day moving average price is $46.80 and its 200-day moving average price is $47.09. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Activity

In related news, COO Ryan Fukushima sold 120,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.51, for a total value of $5,101,200.00. Following the completion of the transaction, the chief operating officer now owns 1,007,207 shares in the company, valued at $42,816,369.57. This represents a 10.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the transaction, the insider now owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This trade represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 865,041 shares of company stock valued at $35,917,673.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. bought a new stake in Tempus AI during the third quarter worth approximately $30,000. FNY Investment Advisers LLC acquired a new stake in shares of Tempus AI during the 4th quarter valued at $67,000. Vestor Capital LLC bought a new stake in shares of Tempus AI during the 3rd quarter worth $153,000. Stifel Financial Corp acquired a new position in shares of Tempus AI in the 3rd quarter worth $218,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Tempus AI during the second quarter worth $136,000. 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.