Tempus AI (NASDAQ:TEM) Trading 4% Higher – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM) rose 4% on Wednesday . The company traded as high as $48.29 and last traded at $47.57. 3,538,763 shares changed hands during trading, a decline of 29% from the average daily volume of 4,976,978 shares. The stock had previously closed at $45.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Loop Capital decreased their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. William Blair restated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, TD Cowen restated a “buy” rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Price Performance

The company’s fifty day simple moving average is $56.07 and its 200 day simple moving average is $51.45. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Buying and Selling at Tempus AI

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of Tempus AI stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $60.00, for a total value of $826,200.00. Following the completion of the sale, the chief accounting officer now directly owns 57,237 shares in the company, valued at $3,434,220. The trade was a 19.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the transaction, the chief executive officer now directly owns 4,895,589 shares in the company, valued at $287,615,853.75. The trade was a 39.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,598,969 shares of company stock valued at $317,194,162.

Institutional Trading of Tempus AI

A number of hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Tempus AI during the 3rd quarter valued at about $306,000. First Horizon Advisors Inc. purchased a new position in Tempus AI during the third quarter valued at approximately $30,000. The Manufacturers Life Insurance Company boosted its position in shares of Tempus AI by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after purchasing an additional 2,765 shares during the period. Captrust Financial Advisors bought a new stake in shares of Tempus AI during the 3rd quarter valued at $2,726,000. Finally, 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 worth $304,846,000 after buying an additional 813,169 shares during the period. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.