Tempus AI (NASDAQ:TEM) Shares Up 2.7% – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) shot up 2.7% on Thursday . The stock traded as high as $50.25 and last traded at $51.84. 5,146,128 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 7,670,926 shares. The stock had previously closed at $50.45.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TEM shares. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and increased their price target for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Loop Capital cut their price target on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research note on Tuesday, January 14th. Bank of America raised their price objective on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Guggenheim assumed coverage on Tempus AI in a report on Monday, December 9th. They set a “buy” rating and a $74.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Tempus AI currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

Tempus AI Trading Up 4.5 %

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The firm’s 50 day moving average is $44.42 and its two-hundred day moving average is $47.41.

Insider Activity

In other news, Director David R. Epstein sold 620 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the completion of the transaction, the director now directly owns 27,894 shares of the company’s stock, valued at $1,166,248.14. This represents a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric P. Lefkofsky sold 187,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the completion of the transaction, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at approximately $358,780,403.82. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,300,761 shares of company stock worth $51,271,197.

Institutional Trading of Tempus AI

A number of hedge funds have recently made changes to their positions in TEM. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the third quarter valued at about $30,000. FNY Investment Advisers LLC bought a new stake in Tempus AI during the fourth quarter worth about $67,000. Sandia Investment Management LP bought a new position in shares of Tempus AI in the second quarter worth approximately $136,000. Vestor Capital LLC bought a new position in Tempus AI during the third quarter valued at approximately $153,000. Finally, Stifel Financial Corp bought a new position in Tempus AI during the third quarter valued at approximately $218,000. 24.22% of the stock is 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.