Tempus AI (NASDAQ:TEM) Shares Up 2.6% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s stock price shot up 2.6% during mid-day trading on Monday . The stock traded as high as $74.20 and last traded at $69.88. 8,787,502 shares changed hands 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.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEM. Loop Capital lowered their price target on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $50.00 to $55.00 in a research report on Tuesday. Wolfe Research assumed coverage on Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target on the stock. Needham & Company LLC increased their target price on Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.55.

Tempus AI Stock Up 5.3 %

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 firm has a 50-day simple moving average of $51.28 and a 200 day simple moving average of $52.17.

Insider Transactions at Tempus AI

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the transaction, the chief accounting officer now directly owns 57,237 shares of the company’s stock, valued at $3,434,220. This represents a 19.39 % 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, COO Ryan Fukushima sold 120,000 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.51, for a total value of $5,101,200.00. Following the transaction, the chief operating officer now 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 position. The disclosure for this sale can be found here. Insiders sold 2,583,467 shares of company stock worth $130,542,311 over the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TEM. Operose Advisors LLC purchased a new position in shares of Tempus AI during the 4th quarter valued at $25,000. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC purchased a new position in Tempus AI in the fourth quarter worth $34,000. Prestige Wealth Management Group LLC increased 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 acquiring an additional 965 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in Tempus AI during the fourth quarter valued at about $49,000. 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.