Tempus AI (NASDAQ:TEM) Shares Up 2.7% – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) shot up 2.7% during trading on Thursday . The company traded as high as $50.25 and last traded at $51.84. 5,146,128 shares traded hands during trading, a decline of 33% from the average session volume of 7,670,926 shares. The stock had previously closed at $50.45.

Analyst Ratings Changes

A number of analysts have recently issued reports on TEM shares. Loop Capital reduced their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Guggenheim began coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 target price for the company. Bank of America raised their target price on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Wolfe Research assumed coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.36.

Tempus AI Trading Up 4.5 %

The business’s 50-day simple moving average is $44.42 and its 200 day simple moving average is $47.41. 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 Buying and Selling

In other Tempus AI news, COO Ryan Fukushima sold 120,000 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.51, for a total transaction of $5,101,200.00. Following the completion of the sale, the chief operating officer now directly owns 1,007,207 shares in the company, valued at approximately $42,816,369.57. The trade was a 10.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bradley A. Keywell sold 265,000 shares of Tempus AI stock in a transaction that occurred 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 sale, the insider now owns 15,218,365 shares of the company’s stock, valued at approximately $534,164,611.50. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,300,761 shares of company stock worth $51,271,197 in the last three months.

Institutional Trading of Tempus AI

Several institutional investors and hedge funds have recently bought and sold shares of TEM. NEA Management Company LLC acquired a new stake in Tempus AI during the 2nd quarter valued at approximately $160,048,000. Novo Holdings A S acquired a new position in shares of Tempus AI in the 2nd quarter valued at $142,605,000. ARK Investment Management LLC lifted its stake 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 valued at $134,604,000 after purchasing an additional 1,855,459 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Tempus AI by 1,591.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after purchasing an additional 1,145,698 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in shares of Tempus AI in the 2nd quarter valued at $9,625,000. 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.