Tempus AI (NASDAQ:TEM) Shares Up 2.6% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price shot up 2.6% during trading on Monday . The stock traded as high as $74.20 and last traded at $69.88. 8,787,502 shares were traded during mid-day trading, a decline of 38% from the average session volume of 14,214,773 shares. The stock had previously closed at $68.09.

Wall Street Analysts Forecast Growth

TEM has been the subject of a number of analyst reports. Guggenheim reissued a “buy” rating on shares of Tempus AI in a report on Tuesday. TD Cowen restated a “buy” rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. 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. Wolfe Research initiated coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Needham & Company LLC increased their target price on shares of Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.55.

Tempus AI Price Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The company’s 50-day moving average is $51.28 and its 200 day moving average is $52.17.

Insider Activity at Tempus AI

In related news, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the sale, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the 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 sale, the executive vice president now owns 246,085 shares of the company’s stock, valued at approximately $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,583,467 shares of company stock worth $130,542,311.

Institutional Trading of Tempus AI

Several hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Tempus AI during the fourth quarter worth $108,000. Voloridge Investment Management LLC purchased a new stake in shares of Tempus AI during the fourth quarter worth $11,826,000. Two Sigma Advisers LP purchased a new stake in shares of Tempus AI during the fourth quarter worth $625,000. ProShare Advisors LLC purchased a new stake in shares of Tempus AI during the fourth quarter worth $244,000. Finally, Lazard Asset Management LLC acquired a new position in Tempus AI during the fourth quarter worth $1,034,000. 24.22% of the stock is currently owned by hedge funds and other 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.