Tempus AI (NASDAQ:TEM) Shares Up 1.2% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was up 1.2% during mid-day trading on Tuesday . The stock traded as high as $48.64 and last traded at $48.83. Approximately 2,780,795 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 5,242,936 shares. The stock had previously closed at $48.24.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TEM. Loop Capital reduced their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. William Blair restated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Piper Sandler decreased their price target on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Needham & Company LLC raised their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Down 5.5 %

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 has a fifty day moving average price of $58.62 and a 200 day moving average price of $51.55.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 3,000 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $45.54, for a total transaction of $136,620.00. Following the sale, the director now owns 26,514 shares in the company, valued at $1,207,447.56. The trade was a 10.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the transaction, the chief executive officer now directly owns 4,895,589 shares of the company’s stock, valued at approximately $287,615,853.75. The trade was a 39.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,601,969 shares of company stock worth $317,330,782.

Institutional Investors Weigh In On Tempus AI

Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings in shares of Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after purchasing an additional 278 shares during the period. Geode Capital Management LLC lifted its holdings in 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 buying an additional 539 shares during the period. Operose Advisors LLC bought a new stake in shares of Tempus AI in the 4th quarter valued at about $25,000. Prestige Wealth Management Group LLC increased its stake in shares of 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 buying an additional 965 shares during the period. Finally, Farther Finance Advisors LLC acquired a new position in shares of Tempus AI in the fourth quarter worth approximately $34,000. 24.22% of the stock is owned by 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.