Tempus AI (NASDAQ:TEM) Shares Up 1.2% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) rose 1.2% during trading on Tuesday . The company traded as high as $65.34 and last traded at $62.29. Approximately 8,355,728 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 10,424,641 shares. The stock had previously closed at $61.54.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEM. Bank of America increased their target price on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Guggenheim began coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Wolfe Research initiated coverage on shares of Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price for the company. Loop Capital reduced their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Piper Sandler restated a “neutral” rating and issued a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Trading Down 6.1 %

The stock has a 50-day moving average of $44.32 and a 200-day moving average of $48.73. 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 Activity

In related news, CAO Ryan M. Bartolucci sold 13,770 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $60.00, for a total transaction of $826,200.00. Following the transaction, the chief accounting officer now directly owns 57,237 shares in the company, valued at approximately $3,434,220. The trade was a 19.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric P. Lefkofsky sold 476,209 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $49.84, for a total transaction of $23,734,256.56. Following the completion of the sale, the chief executive officer now owns 6,502,643 shares of the company’s stock, valued at approximately $324,091,727.12. This represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,038,072 shares of company stock worth $89,469,375 over the last ninety days.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently modified their holdings of the company. ARK Investment Management LLC boosted its holdings in shares of Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after buying an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. NEA Management Company LLC increased its stake in shares of Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after purchasing an additional 813,169 shares during the period. Millennium Management LLC acquired a new stake in Tempus AI during the 2nd quarter worth approximately $8,067,000. Finally, Carnegie Investment Counsel acquired a new position in Tempus AI in the 3rd quarter valued at $7,936,000. 24.22% of the stock is owned by 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.