Tempus AI (NASDAQ:TEM) Shares Gap Up – Here’s Why

Shares of Tempus AI, Inc. (NASDAQ:TEM) gapped up prior to trading on Monday . The stock had previously closed at $51.35, but opened at $54.94. Tempus AI shares last traded at $56.83, with a volume of 2,711,940 shares trading hands.

Analyst Upgrades and Downgrades

TEM has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. William Blair reissued a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Down 0.7 %

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 company has a 50 day moving average of $57.42 and a 200-day moving average of $51.46.

Insider Activity at Tempus AI

In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of Tempus AI stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total value of $792,200.00. Following the completion of the transaction, the chief operating officer now directly owns 982,442 shares of the company’s stock, valued at $38,914,527.62. The trade was a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James William Rogers sold 23,030 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $45.97, for a total value of $1,058,689.10. Following the sale, the chief financial officer now owns 164,750 shares of the company’s stock, valued at approximately $7,573,557.50. The trade was a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Investors Weigh In On Tempus AI

Several institutional investors and hedge funds have recently bought and sold shares of TEM. First Horizon Advisors Inc. acquired a new position in Tempus AI during the third quarter valued at approximately $30,000. Operose Advisors LLC acquired a new position in shares of Tempus AI during the 4th quarter worth $25,000. Farther Finance Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter worth $34,000. Prestige Wealth Management Group LLC boosted its stake in Tempus AI by 910.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after buying an additional 965 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in Tempus AI in the fourth quarter valued at about $49,000. 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.