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

Tempus AI, Inc. (NASDAQ:TEM)’s share price 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.

Wall Street Analyst Weigh In

TEM has been the subject of several research analyst reports. Needham & Company LLC upped their price target on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Loop Capital dropped their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Piper Sandler reduced their price target on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Wolfe Research lowered shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Bank of America boosted their target price on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI presently has an average rating of “Moderate Buy” and a consensus price target of $61.18.

Tempus AI Stock Down 0.7 %

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The business’s 50 day moving average is $57.42 and its two-hundred day moving average is $51.46.

Insiders Place Their Bets

In other Tempus AI news, major shareholder Bradley A. Keywell sold 170,720 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the transaction, the insider now directly owns 15,993,729 shares in the company, valued at approximately $566,977,693.05. This represents a 1.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total transaction of $603,947.30. Following the completion of the sale, the executive vice president now owns 154,171 shares of the company’s stock, valued at $7,088,782.58. This represents a 7.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Investors Weigh In On Tempus AI

Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in Tempus AI by 13.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after acquiring an additional 278 shares during the period. First Horizon Advisors Inc. bought a new position in shares of Tempus AI in the 3rd quarter worth $30,000. Geode Capital Management LLC grew its position in Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after purchasing an additional 539 shares during the period. Operose Advisors LLC acquired a new stake in Tempus AI in the 4th quarter valued at $25,000. Finally, Prestige Wealth Management Group LLC increased its stake in Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares in the last quarter. 24.22% of the stock is currently 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.