Tempus AI (NASDAQ:TEM) Shares Gap Up – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $45.58, but opened at $48.75. Tempus AI shares last traded at $45.68, with a volume of 3,267,094 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TEM. TD Cowen reiterated a “buy” rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Loop Capital lowered their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Bank of America upped their target price on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Finally, Guggenheim reiterated a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Down 7.3 %

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 business’s fifty day moving average price is $55.00 and its 200-day moving average price is $51.98.

Insider Transactions at Tempus AI

In other Tempus AI news, 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 transaction, the chief financial officer now owns 229,812 shares of the company’s stock, valued at $9,245,336.76. This trade represents a 0.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nadja West sold 809 shares of Tempus AI stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the sale, the director now owns 37,705 shares in the company, valued at $1,927,102.55. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,755,906 shares of company stock valued at $322,788,693 over the last ninety days.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently made changes to their positions in TEM. Wells Fargo & Company MN boosted its holdings in shares of Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after buying an additional 278 shares during the last quarter. First Horizon Advisors Inc. purchased a new stake in shares of Tempus AI during the 3rd quarter worth approximately $30,000. Geode Capital Management LLC increased its stake in shares of Tempus AI by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after purchasing an additional 539 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of Tempus AI in the 4th quarter worth approximately $25,000. Finally, Prestige Wealth Management Group LLC lifted its stake in Tempus AI by 910.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares during the last quarter. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.