Tempus AI (NASDAQ:TEM) Trading Up 7.4% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) shot up 7.4% during mid-day trading on Friday . The stock traded as high as $35.53 and last traded at $35.48. 2,141,394 shares traded hands during trading, an increase of 38% from the average session volume of 1,553,387 shares. The stock had previously closed at $33.03.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TEM. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and lifted their target price for the company from $45.00 to $65.00 in a report on Monday, November 11th. Bank of America raised their target price on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Guggenheim assumed coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price target for the company. Wolfe Research started coverage on Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price for the company. Finally, Loop Capital boosted their price target on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Tempus AI has an average rating of “Moderate Buy” and an average target price of $56.00.

Tempus AI Price Performance

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 firm has a 50-day moving average price of $51.96.

Insider Transactions at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the transaction, the executive vice president now owns 246,085 shares in the company, valued at approximately $10,431,543.15. This represents a 17.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the sale, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 657,386 shares of company stock worth $28,080,905.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EFG Asset Management North America Corp. acquired a new stake in Tempus AI in the second quarter worth approximately $1,333,000. ARK Investment Management LLC acquired a new position in shares of Tempus AI in the 2nd quarter worth approximately $18,294,000. Northwestern University acquired a new stake in shares of Tempus AI during the second quarter worth $491,000. Alphabet Inc. acquired a new stake in shares of Tempus AI in the second quarter worth $54,289,000. Finally, Pier Capital LLC acquired a new position in Tempus AI during the second quarter valued at $2,301,000. 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.