Short Interest in Tempus AI, Inc. (NASDAQ:TEM) Grows By 22.2%

Tempus AI, Inc. (NASDAQ:TEM) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 5,110,000 shares, an increase of 22.2% from the November 15th total of 4,180,000 shares. Currently, 10.3% of the company’s shares are short sold. Based on an average daily volume of 1,260,000 shares, the short-interest ratio is presently 4.1 days.

Wall Street Analyst Weigh In

TEM has been the topic of several research analyst reports. Wolfe Research assumed coverage on Tempus AI in a research report on Friday. They set an “outperform” rating and a $60.00 target price on the stock. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and increased their price target for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Bank of America lifted their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday. Loop Capital increased their target price on shares of Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler restated a “neutral” rating and issued a $70.00 price target (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Trading Down 2.4 %

Tempus AI stock traded down $0.99 during trading on Friday, hitting $41.00. 5,058,569 shares of the company were exchanged, compared to its average volume of 1,427,998. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The firm has a 50 day simple moving average of $52.64. Tempus AI has a 52 week low of $22.89 and a 52 week high of $79.49.

Insider Buying and Selling

In related news, EVP Andrew Polovin sold 51,504 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value 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. The trade was a 17.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David R. Epstein sold 620 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the sale, the director now directly owns 27,894 shares in the company, valued at $1,166,248.14. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,949 shares of company stock valued at $27,821,944 in the last three months.

Institutional Trading of Tempus AI

Institutional investors have recently made changes to their positions in the company. NEA Management Company LLC increased its position in shares of Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after acquiring an additional 813,169 shares during the last quarter. Novo Holdings A S purchased a new stake in shares of Tempus AI during the 2nd quarter valued at $142,605,000. Revolution Growth Management Company Inc. bought a new stake in shares of Tempus AI during the 2nd quarter worth $128,133,000. ARK Investment Management LLC boosted its holdings in shares of Tempus AI by 355.0% in the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after buying an additional 1,855,459 shares during the last quarter. Finally, Alphabet Inc. bought a new position in Tempus AI during the second quarter valued at about $54,289,000. Institutional investors own 24.22% of the company’s stock.

About Tempus AI

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.