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

Tempus AI, Inc. (NASDAQ:TEM)’s share price shot up 1.2% on Tuesday . The company traded as high as $48.64 and last traded at $48.83. 2,780,795 shares were traded during mid-day trading, a decline of 47% from the average session volume of 5,242,936 shares. The stock had previously closed at $48.24.

Analysts Set New Price Targets

TEM has been the topic of several research analyst reports. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Bank of America lifted their price target on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Piper Sandler decreased their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Loop Capital reduced their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Price Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The stock’s fifty day simple moving average is $58.64 and its 200-day simple moving average is $51.58.

Insiders Place Their Bets

In other Tempus AI news, Director Jennifer A. Doudna sold 1,320 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $90.00, for a total value of $118,800.00. Following the completion of the transaction, the director now directly owns 36,011 shares of the company’s stock, valued at approximately $3,240,990. The trade was a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew Polovin sold 13,135 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total transaction of $603,947.30. Following the sale, the executive vice president now directly owns 154,171 shares in the company, valued at $7,088,782.58. The trade was a 7.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,598,969 shares of company stock valued at $317,194,162.

Hedge Funds Weigh In On Tempus AI

Institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in Tempus AI by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after purchasing an additional 278 shares during the period. Geode Capital Management LLC increased its holdings in Tempus AI by 0.4% in the 3rd 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. Operose Advisors LLC acquired a new position in Tempus AI during the fourth quarter worth $25,000. Prestige Wealth Management Group LLC lifted its holdings 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 in the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Tempus AI in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.