Tempus AI, Inc. (NASDAQ:TEM) Sees Significant Growth in Short Interest

Tempus AI, Inc. (NASDAQ:TEM) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 5,110,000 shares, a growth of 22.2% from the November 15th total of 4,180,000 shares. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 10.3% of the company’s stock are short sold.

Insider Activity

In other news, CFO James William Rogers sold 83,025 shares of Tempus AI stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.30, for a total transaction of $3,511,957.50. Following the completion of the sale, the chief financial officer now directly owns 231,280 shares of the company’s stock, valued at approximately $9,783,144. The trade was a 26.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the transaction, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,949 shares of company stock worth $27,821,944.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in shares of Tempus AI by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock worth $45,920,000 after acquiring an additional 8,387 shares during the period. Tidal Investments LLC purchased a new position in Tempus AI during the third quarter worth about $7,633,000. Teachers Retirement System of The State of Kentucky lifted its position in Tempus AI by 6.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 126,500 shares of the company’s stock valued at $7,160,000 after purchasing an additional 7,500 shares during the period. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 539 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Tempus AI during the 3rd quarter worth approximately $502,000. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TEM. Wolfe Research assumed coverage on Tempus AI in a research note on Friday. They set an “outperform” rating and a $60.00 target price for the company. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Guggenheim assumed coverage on shares of Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 target price on the stock. Piper Sandler reissued a “neutral” rating and issued a $70.00 price target (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Finally, Loop Capital upped their price objective 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tempus AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Stock Performance

Shares of NASDAQ TEM traded down $0.99 during midday trading on Friday, reaching $41.00. 5,058,569 shares of the company were exchanged, compared to its average volume of 2,438,622. Tempus AI has a 1 year low of $22.89 and a 1 year high of $79.49. The company’s fifty day moving average is $52.64. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

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.