Tempus AI (NASDAQ:TEM) Trading Up 5.7% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) traded up 5.7% during trading on Monday . The stock traded as high as $41.36 and last traded at $40.44. 2,159,741 shares were traded during trading, a decline of 33% from the average session volume of 3,243,271 shares. The stock had previously closed at $38.25.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TEM shares. Bank of America raised their price objective on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price target (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Loop Capital raised their price objective on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research started coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. Finally, Guggenheim began coverage on shares of Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Stock Performance

The company has a fifty day moving average of $48.59 and a 200-day moving average of $46.96. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insider Activity at Tempus AI

In related news, COO Ryan Fukushima sold 120,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.51, for a total transaction of $5,101,200.00. Following the completion of the sale, the chief operating officer now directly owns 1,007,207 shares of the company’s stock, valued at $42,816,369.57. This trade represents a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the completion of the sale, the insider now directly owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 865,041 shares of company stock worth $35,917,673.

Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently bought and sold shares of TEM. NEA Management Company LLC purchased a new stake in shares of Tempus AI during the second quarter worth about $160,048,000. Novo Holdings A S acquired a new position in Tempus AI in the 2nd quarter valued at $142,605,000. Revolution Growth Management Company Inc. acquired a new position in Tempus AI in the 2nd quarter valued at $128,133,000. ARK Investment Management LLC lifted its stake in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after purchasing an additional 1,145,698 shares during the last quarter. 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.