Tempus AI, Inc. (NASDAQ:TEM) Short Interest Up 22.2% in November

Tempus AI, Inc. (NASDAQ:TEM) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 5,110,000 shares, a growth of 22.2% from the November 15th total of 4,180,000 shares. Based on an average daily volume of 1,260,000 shares, the short-interest ratio is currently 4.1 days. Approximately 10.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEM. 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 on the stock. Wolfe Research began coverage on shares of Tempus AI in a report on Friday. They issued an “outperform” rating and a $60.00 price objective on the stock. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and raised their price objective for the company from $45.00 to $65.00 in a report on Monday, November 11th. Bank of America lifted their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Piper Sandler reiterated a “neutral” rating and set a $70.00 price target (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Insider Buying and Selling

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the sale, the insider now directly owns 16,164,449 shares in the company, valued at $694,263,084.55. This represents a 2.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Ryan Fukushima sold 120,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.51, for a total transaction of $5,101,200.00. Following the sale, the chief operating officer now owns 1,007,207 shares in the company, valued at approximately $42,816,369.57. This trade represents a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,949 shares of company stock valued at $27,821,944.

Hedge Funds Weigh In On Tempus AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. acquired a new stake in Tempus AI during the third quarter worth approximately $30,000. Sandia Investment Management LP purchased a new position in shares of Tempus AI in the 2nd quarter valued at $136,000. Vestor Capital LLC purchased a new position in shares of Tempus AI in the 3rd quarter valued at $153,000. Stifel Financial Corp purchased a new position in shares of Tempus AI in the 3rd quarter valued at $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Tempus AI during the 3rd quarter worth $258,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Stock Performance

TEM traded down $1.12 during midday trading on Monday, reaching $39.88. 4,615,700 shares of the company’s stock were exchanged, compared to its average volume of 1,453,286. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The company’s 50-day moving average price is $52.43. Tempus AI has a 1-year low of $22.89 and a 1-year high of $79.49.

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.