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

Tempus AI, Inc. (NASDAQ:TEM) shares shot up 1.6% during mid-day 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 Analysts Forecast Growth

A number of equities analysts have recently commented on TEM shares. Piper Sandler reiterated a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Wolfe Research assumed coverage on Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target for the company. Guggenheim began coverage on shares of Tempus AI in a report on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. Loop Capital upped their target price on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Trading Down 3.2 %

The firm has a 50-day simple moving average of $48.75 and a 200-day simple moving average of $47.03. 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 at Tempus AI

In other Tempus AI news, CEO Eric P. Lefkofsky sold 187,655 shares of the firm’s 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 sale, the chief executive officer now owns 9,557,283 shares of the company’s stock, valued at $358,780,403.82. This trade represents a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James William Rogers sold 1,468 shares of Tempus AI stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $40.23, for a total transaction of $59,057.64. Following the sale, the chief financial officer now owns 229,812 shares of the company’s stock, valued at approximately $9,245,336.76. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 845,041 shares of company stock valued at $35,125,473.

Hedge Funds Weigh In On Tempus AI

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. bought a new stake in Tempus AI during the 3rd quarter valued at approximately $30,000. Vestor Capital LLC purchased a new position in shares of Tempus AI in the 3rd quarter valued at approximately $153,000. Stifel Financial Corp bought a new stake in shares of Tempus AI during the third quarter valued at approximately $218,000. Sandia Investment Management LP purchased a new stake in Tempus AI in the second quarter worth $136,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Tempus AI in the third quarter worth $258,000. 24.22% of the stock is owned by hedge funds and other 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.