Tempus AI (NASDAQ:TEM) Trading 8.5% Higher – What’s Next?

Shares of Tempus AI, Inc. (NASDAQ:TEM) rose 8.5% during mid-day trading on Wednesday . The stock traded as high as $69.95 and last traded at $67.11. Approximately 11,987,491 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 10,835,146 shares. The stock had previously closed at $61.85.

Analysts Set New Price Targets

TEM has been the subject of a number of analyst reports. Bank of America increased their price target on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and raised their target price for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Guggenheim began coverage on shares of Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective for the company. Loop Capital reduced their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Wolfe Research assumed coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Stock Up 12.1 %

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

Insiders Place Their Bets

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total value of $826,200.00. Following the transaction, the chief accounting officer now owns 57,237 shares of the company’s stock, valued at approximately $3,434,220. The trade was a 19.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Polovin sold 51,504 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the transaction, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,037,702 shares of company stock valued at $89,449,651 in the last ninety days.

Hedge Funds Weigh In On Tempus AI

A number of large investors have recently made changes to their positions in TEM. ARK Investment Management LLC increased its position in Tempus AI by 132.1% during the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after purchasing an additional 3,141,487 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after acquiring an additional 2,021,394 shares during the period. NEA Management Company LLC increased its stake in Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after acquiring an additional 813,169 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Tempus AI in the 2nd quarter worth about $8,067,000. Finally, Carnegie Investment Counsel acquired a new position in shares of Tempus AI in the 3rd quarter valued at about $7,936,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.