Tempus AI (NASDAQ:TEM) Trading 2.7% Higher – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) traded up 2.7% during trading on Thursday . The stock traded as high as $50.25 and last traded at $51.84. 5,146,128 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 7,670,926 shares. The stock had previously closed at $50.45.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TEM. Wolfe Research initiated coverage on Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price target on the stock. Piper Sandler restated a “neutral” rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Bank of America lifted their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and issued a $56.00 price objective on shares of Tempus AI in a report on Tuesday, January 14th. Finally, Loop Capital lowered their target price on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.36.

Tempus AI Trading Down 6.3 %

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 stock has a 50-day moving average price of $44.36 and a 200 day moving average price of $47.59.

Insiders Place Their Bets

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was 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 directly owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total value of $7,044,568.70. Following the completion of the sale, the chief executive officer now directly owns 9,557,283 shares in the company, valued at approximately $358,780,403.82. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,862,758 shares of company stock worth $79,585,675.

Hedge Funds Weigh In On Tempus AI

Several hedge funds have recently modified their holdings of TEM. NEA Management Company LLC boosted its position in Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares during the last quarter. Novo Holdings A S bought a new stake in shares of Tempus AI during the 2nd quarter worth approximately $142,605,000. ARK Investment Management LLC boosted its holdings in shares of Tempus AI by 355.0% in the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after buying an additional 1,855,459 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after buying an additional 1,145,698 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Tempus AI by 1.0% during the third quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock worth $45,920,000 after buying an additional 8,387 shares during the last quarter. 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.