Tempus AI (NASDAQ:TEM) Stock Price Up 6.7% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s share price shot up 6.7% on Friday . The stock traded as high as $62.15 and last traded at $61.05. 9,209,341 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 9,842,106 shares. The stock had previously closed at $57.19.

Analyst Upgrades and Downgrades

TEM has been the subject of a number of analyst reports. Wolfe Research started coverage on Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $56.00 target price on shares of Tempus AI in a research report on Tuesday, January 14th. Guggenheim assumed coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Finally, Bank of America raised their target price on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The company has a 50 day simple moving average of $44.21 and a 200-day simple moving average of $48.03.

Insider Transactions at Tempus AI

In other news, CEO Eric P. Lefkofsky sold 85,788 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $53.39, for a total value of $4,580,221.32. Following the completion of the transaction, the chief executive officer now directly owns 5,771,787 shares in the company, valued at approximately $308,155,707.93. This represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 15,218,365 shares in the company, valued at approximately $534,164,611.50. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,862,758 shares of company stock valued at $79,585,675 over the last three months.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEM. Kovitz Investment Group Partners LLC bought a new position in Tempus AI in the 3rd quarter worth about $1,367,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Tempus AI by 1,591.2% in the 3rd 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 last quarter. Captrust Financial Advisors purchased a new stake in Tempus AI during the 3rd quarter valued at $2,726,000. Sigma Planning Corp purchased a new position in shares of Tempus AI in the third quarter worth $1,323,000. Finally, Dakota Wealth Management purchased a new position in shares of Tempus AI during the 3rd quarter worth $1,185,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.