Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume – Here’s Why

Shares of Tempus AI, Inc. (NASDAQ:TEM) saw unusually-high trading volume on Wednesday . Approximately 8,775,620 shares changed hands during mid-day trading, an increase of 38% from the previous session’s volume of 6,363,979 shares.The stock last traded at $49.70 and had previously closed at $47.64.

Analysts Set New Price Targets

TEM has been the topic of a number of research analyst reports. Bank of America increased their target price on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and increased their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Piper Sandler reissued a “neutral” rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Guggenheim assumed coverage on shares of Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 target price on shares of Tempus AI in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

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 company has a 50 day moving average price of $44.38 and a two-hundred day moving average price of $47.46.

Insiders Place Their Bets

In related news, major shareholder Bradley A. Keywell sold 265,000 shares of Tempus AI stock in a transaction on Friday, January 17th. The stock was sold at an average price of $35.10, for a total value of $9,301,500.00. Following the completion of the transaction, the insider now directly owns 15,218,365 shares in the company, valued at approximately $534,164,611.50. This trade represents a 1.71 % 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, Director David R. Epstein sold 620 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total transaction of $25,922.20. Following the transaction, the director now owns 27,894 shares of the company’s stock, valued at $1,166,248.14. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,300,761 shares of company stock valued at $51,271,197 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TEM. NEA Management Company LLC boosted its holdings in Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares in the last quarter. Novo Holdings A S acquired a new stake in shares of Tempus AI in the 2nd quarter valued at approximately $142,605,000. ARK Investment Management LLC boosted its stake in shares of Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after buying an additional 1,855,459 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after acquiring an additional 1,145,698 shares during the period. Finally, Franklin Resources Inc. raised its position in Tempus AI by 1.0% in the third quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock worth $45,920,000 after acquiring an additional 8,387 shares in the last quarter. Institutional investors and hedge funds 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.