Tempus AI (NASDAQ:TEM) Trading 2% Higher – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price shot up 2% during trading on Wednesday . The company traded as high as $56.46 and last traded at $52.06. 6,193,066 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 9,221,391 shares. The stock had previously closed at $51.02.

Wall Street Analysts Forecast Growth

TEM has been the subject of several research analyst reports. Guggenheim assumed coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 price target on shares of Tempus AI in a report on Tuesday, January 14th. Loop Capital reduced their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Bank of America boosted their target price on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and raised their price target for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.36.

Tempus AI Stock 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 $44.26 and its two-hundred day moving average is $47.95.

Insider Buying and Selling at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the 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 transaction, the insider now directly owns 16,164,449 shares in the company, valued at $694,263,084.55. This trade represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the transaction, the executive vice president now owns 246,085 shares in the company, valued at $10,431,543.15. This represents a 17.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,862,758 shares of company stock worth $79,585,675.

Hedge Funds Weigh In On Tempus AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI in the 3rd quarter worth approximately $30,000. Geode Capital Management LLC increased its holdings in shares of Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after buying an additional 539 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Tempus AI during the 4th quarter valued at $67,000. Vestor Capital LLC bought a new stake in shares of Tempus AI during the 3rd quarter worth $153,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Tempus AI by 10.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after acquiring an additional 2,765 shares during the last quarter. 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.