Tempus AI (NASDAQ:TEM) Stock Price Up 4.2% – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) rose 4.2% on Tuesday . The stock traded as high as $47.23 and last traded at $47.08. Approximately 3,436,270 shares were traded during trading, a decline of 28% from the average daily volume of 4,804,807 shares. The stock had previously closed at $45.17.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. TD Cowen reissued a “buy” rating and set a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and raised their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The business has a 50-day moving average of $54.30 and a 200-day moving average of $52.30.

Insiders Place Their Bets

In other news, CEO Eric P. Lefkofsky sold 562,345 shares of Tempus AI stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $50.93, for a total value of $28,640,230.85. Following the completion of the transaction, the chief executive officer now owns 9,457,283 shares of the company’s stock, valued at $481,659,423.19. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David R. Epstein sold 620 shares of the company’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. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,406,855 shares of company stock valued at $350,610,637 in the last 90 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TEM. Wells Fargo & Company MN lifted its holdings in Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after purchasing an additional 278 shares during the last quarter. First Horizon Advisors Inc. bought a new position in shares of Tempus AI in the third quarter valued at about $30,000. Geode Capital Management LLC lifted 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 buying an additional 539 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter worth about $25,000. Finally, Prestige Wealth Management Group LLC grew its stake in Tempus AI by 910.4% in the 4th 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 last quarter. 24.22% of the stock is currently 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.