Tempus AI (NASDAQ:TEM) Shares Up 1.6% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s share price rose 1.6% during trading on Monday . The company traded as high as $71.23 and last traded at $70.09. Approximately 8,219,791 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 11,580,188 shares. The stock had previously closed at $68.96.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEM. Piper Sandler restated a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Loop Capital dropped their target price on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. William Blair lowered shares of Tempus AI from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research note on Tuesday, January 14th. Finally, Bank of America boosted their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.55.

Tempus AI Price Performance

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 business’s 50-day moving average is $44.89 and its 200-day moving average is $49.56.

Insider Activity

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the sale, the chief accounting officer now directly owns 57,237 shares in the company, valued at $3,434,220. This trade represents a 19.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the transaction, the executive vice president now directly owns 246,085 shares of the company’s stock, valued at $10,431,543.15. The trade was a 17.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,229,449 shares of company stock valued at $102,293,124 in the last quarter.

Hedge Funds Weigh In On Tempus AI

A number of large investors have recently added to or reduced their stakes in TEM. ARK Investment Management LLC increased its position in shares of Tempus AI by 132.1% during the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after purchasing an additional 3,141,487 shares in the last quarter. NEA Management Company LLC grew its holdings 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 worth $304,846,000 after buying an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after acquiring an additional 2,021,394 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after acquiring an additional 1,950,862 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.