Tempus AI (NASDAQ:TEM) Trading 5.3% Higher – Here’s Why

Shares of Tempus AI, Inc. (NASDAQ:TEM) rose 5.3% during trading on Monday . The stock traded as high as $59.80 and last traded at $60.40. Approximately 6,700,130 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 10,095,790 shares. The stock had previously closed at $57.39.

Analyst Upgrades and Downgrades

TEM has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $56.00 target price on shares of Tempus AI in a report on Tuesday, January 14th. Bank of America raised their target price on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Wolfe Research began coverage on Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target for the company. TD Cowen reaffirmed a “buy” rating and set a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday. Finally, Stifel Nicolaus cut 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 note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.55.

Tempus AI Price Performance

The firm’s 50-day moving average is $44.20 and its two-hundred day moving average is $48.58. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Activity

In related news, Director David R. Epstein sold 620 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the completion of the sale, the director now directly owns 27,894 shares in the company, valued at approximately $1,166,248.14. This trade represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $60.00, for a total transaction of $826,200.00. Following the completion of the transaction, the chief accounting officer now owns 57,237 shares in the company, valued at $3,434,220. The trade was a 19.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,037,702 shares of company stock worth $89,449,651 over the last quarter.

Institutional Trading of Tempus AI

A number of hedge funds and other institutional investors have recently modified their holdings of TEM. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tempus AI during the third quarter worth about $1,367,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tempus AI in the fourth quarter valued at approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in 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 worth $68,922,000 after acquiring an additional 1,145,698 shares during the last quarter. Captrust Financial Advisors acquired a new position in Tempus AI during the 3rd quarter worth approximately $2,726,000. Finally, Sigma Planning Corp acquired a new stake in shares of Tempus AI in the 3rd quarter valued at $1,323,000. 24.22% of the stock is 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.