Tempus AI (NASDAQ:TEM) Trading 1.6% Higher – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s share price shot up 1.6% during trading on Wednesday . The company traded as high as $40.80 and last traded at $39.51. 1,242,095 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 3,425,035 shares. The stock had previously closed at $38.88.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TEM shares. Loop Capital lifted their price target on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Bank of America boosted their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Wolfe Research assumed coverage on shares of Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Finally, Guggenheim began coverage on Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Price Performance

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’s fifty day moving average price is $48.45 and its 200-day moving average price is $46.89.

Insiders Place Their Bets

In other Tempus AI news, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total value of $7,044,568.70. Following the completion of the transaction, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at $358,780,403.82. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James William Rogers sold 83,025 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $3,511,957.50. Following the sale, the chief financial officer now owns 231,280 shares in the company, valued at $9,783,144. This trade represents a 26.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 865,041 shares of company stock valued at $35,917,673 over the last 90 days.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. purchased a new position in Tempus AI in the third quarter valued at $30,000. Geode Capital Management LLC increased its holdings in shares of Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after acquiring an additional 539 shares during the last quarter. Vestor Capital LLC acquired a new stake in shares of Tempus AI during the 3rd quarter worth about $153,000. The Manufacturers Life Insurance Company lifted its stake in Tempus AI by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after purchasing an additional 2,765 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in Tempus AI during the third quarter worth approximately $218,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Tempus AI Company Profile

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.