Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) saw strong trading volume on Wednesday . 1,687,457 shares traded hands during trading, an increase of 15% from the previous session’s volume of 1,470,047 shares.The stock last traded at $36.96 and had previously closed at $38.95.

Analyst Ratings Changes

Several equities analysts have commented on TEM shares. Guggenheim initiated coverage on Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective on the stock. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and upped their price target for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Loop Capital lifted their price objective on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Bank of America upped their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Tempus AI Stock Down 3.7 %

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 business has a fifty day moving average price of $51.96.

Insider Transactions at Tempus AI

In related news, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the transaction, the executive vice president now owns 246,085 shares in the company, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Ryan Fukushima sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.51, for a total value of $5,101,200.00. Following the completion of the transaction, the chief operating officer now owns 1,007,207 shares of the company’s stock, valued at approximately $42,816,369.57. The trade was a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 657,386 shares of company stock valued at $28,080,905.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NEA Management Company LLC raised its position in shares of Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after acquiring an additional 813,169 shares during the period. Novo Holdings A S purchased a new position in shares of Tempus AI in the 2nd quarter valued at about $142,605,000. Revolution Growth Management Company Inc. purchased a new position in Tempus AI during the second quarter worth approximately $128,133,000. ARK Investment Management LLC grew its holdings in Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after purchasing an additional 1,855,459 shares during the period. Finally, Alphabet Inc. purchased a new stake in shares of Tempus AI in the second quarter valued at approximately $54,289,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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.