Tempus AI (NASDAQ:TEM) Trading Up 2% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) rose 2% during mid-day trading on Wednesday . The stock traded as high as $56.46 and last traded at $52.06. Approximately 6,193,066 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 9,221,391 shares. The stock had previously closed at $51.02.

Analyst Ratings Changes

A number of brokerages have recently commented on TEM. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research report on Tuesday, January 14th. Guggenheim initiated coverage on Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 target price for the company. Wolfe Research began coverage on Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target on the stock. Piper Sandler reissued a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Finally, Loop Capital lowered their target price on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tempus AI has an average rating of “Moderate Buy” and a consensus price target of $56.36.

Tempus AI Trading Up 0.3 %

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’s 50-day moving average price is $44.21 and its 200-day moving average price is $48.03.

Insider Buying and Selling at Tempus AI

In other Tempus AI news, CEO Eric P. Lefkofsky sold 187,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total value of $7,044,568.70. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the sale, the insider now owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,862,758 shares of company stock worth $79,585,675.

Hedge Funds Weigh In On Tempus AI

Several hedge funds have recently added to or reduced their stakes in TEM. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI in the 3rd quarter valued at $30,000. Geode Capital Management LLC increased its holdings in shares of Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after acquiring an additional 539 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Tempus AI during the fourth quarter worth about $67,000. Vestor Capital LLC bought a new position in shares of Tempus AI during the 3rd quarter valued at about $153,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Tempus AI by 10.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock valued at $1,686,000 after purchasing an additional 2,765 shares during the period. Institutional investors and hedge funds 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.