Tempus AI (NASDAQ:TEM) Stock Price Up 5.7% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) rose 5.7% on Monday . The company traded as high as $41.36 and last traded at $40.44. Approximately 2,159,741 shares traded hands during trading, a decline of 33% from the average daily volume of 3,243,271 shares. The stock had previously closed at $38.25.

Analyst Ratings Changes

TEM has been the subject of several research analyst reports. Guggenheim initiated coverage on shares of Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price target (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Loop Capital lifted their price target on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and lifted their price objective for the company from $45.00 to $65.00 in a report on Monday, November 11th. Finally, Bank of America lifted their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Tempus AI presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Tempus AI Stock Performance

The firm’s fifty day moving average is $48.93 and its two-hundred day moving average is $46.86. 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 Buying and Selling

In other Tempus AI news, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI stock in a transaction dated Wednesday, December 18th. The shares were 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 approximately $358,780,403.82. The trade was a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James William Rogers sold 83,025 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $3,511,957.50. Following the completion of the sale, the chief financial officer now directly owns 231,280 shares in the company, valued at approximately $9,783,144. This represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 845,041 shares of company stock worth $35,125,473.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently modified their holdings of the business. Kovitz Investment Group Partners LLC bought a new stake in shares of Tempus AI in the third quarter valued at approximately $1,367,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 valued at $68,922,000 after purchasing an additional 1,145,698 shares during the period. Captrust Financial Advisors bought a new stake in shares of Tempus AI in the third quarter valued at approximately $2,726,000. Sigma Planning Corp bought a new stake in shares of Tempus AI in the third quarter valued at approximately $1,323,000. Finally, Dakota Wealth Management bought a new stake in shares of Tempus AI in the third quarter valued at approximately $1,185,000. Institutional investors own 24.22% of the company’s stock.

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.