Tempus AI (NASDAQ:TEM) Stock Price Up 0.6% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was up 0.6% on Friday . The stock traded as high as $56.71 and last traded at $55.63. Approximately 7,470,268 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 14,855,095 shares. The stock had previously closed at $55.30.

Analysts Set New Price Targets

TEM has been the subject of several research reports. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and upped their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Bank of America lifted their price objective on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Loop Capital decreased their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Needham & Company LLC raised their target price on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.55.

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 stock has a 50 day simple moving average of $52.70 and a 200-day simple moving average of $52.46.

Insider Activity

In related news, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares of the company’s stock, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the director now owns 27,894 shares of the company’s stock, valued at approximately $1,166,248.14. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,823,701 shares of company stock worth $320,906,059 over the last three months.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently modified their holdings of the business. Operose Advisors LLC purchased a new position in Tempus AI in the 4th quarter worth about $25,000. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI in the third quarter worth approximately $30,000. Farther Finance Advisors LLC purchased a new position in shares of Tempus AI during the fourth quarter valued at approximately $34,000. Prestige Wealth Management Group LLC lifted its position in Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares during the period. Finally, NewEdge Advisors LLC purchased a new stake in Tempus AI in the fourth quarter worth approximately $49,000. 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.