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

Tempus AI, Inc. (NASDAQ:TEM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $35.15, but opened at $42.84. Tempus AI shares last traded at $46.47, with a volume of 6,882,720 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and upped their price target for the company from $45.00 to $65.00 in a report on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research note on Tuesday, January 14th. 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 note on Tuesday, January 14th. Wolfe Research started coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Guggenheim initiated coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.36.

Tempus AI Trading Up 39.3 %

The company has a fifty day moving average of $45.18 and a 200 day moving average of $47.27. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Activity at Tempus AI

In other Tempus AI news, major shareholder Bradley A. Keywell sold 265,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the transaction, the insider now directly owns 15,218,365 shares of the company’s stock, valued at $534,164,611.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric P. Lefkofsky sold 187,655 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total value of $7,044,568.70. Following the transaction, the chief executive officer now directly owns 9,557,283 shares in the company, valued at approximately $358,780,403.82. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,300,761 shares of company stock valued at $51,271,197.

Hedge Funds Weigh In On Tempus AI

Several large investors have recently bought and sold shares of TEM. First Horizon Advisors Inc. bought a new stake in Tempus AI in the 3rd quarter valued at $30,000. FNY Investment Advisers LLC bought a new stake in shares of Tempus AI in the 4th quarter valued at approximately $67,000. Vestor Capital LLC acquired a new position in shares of Tempus AI in the 3rd quarter worth approximately $153,000. Stifel Financial Corp bought a new position in shares of Tempus AI during the 3rd quarter worth approximately $218,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Tempus AI during the 2nd quarter worth about $136,000. 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.