Tempus AI (NASDAQ:TEM) Sees Large Volume Increase – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM) saw strong trading volume on Wednesday . 8,775,620 shares were traded during mid-day trading, an increase of 38% from the previous session’s volume of 6,363,979 shares.The stock last traded at $49.70 and had previously closed at $47.64.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Guggenheim initiated coverage on shares of Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 target price on the stock. Loop Capital reduced their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.36.

Tempus AI Stock Performance

The company has a 50-day moving average of $44.77 and a 200-day moving average of $47.39. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Transactions at Tempus AI

In related news, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total value of $16,999,610.00. Following the sale, the insider now directly owns 16,164,449 shares in the company, valued at $694,263,084.55. The trade was a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Ryan Fukushima sold 120,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.51, for a total value of $5,101,200.00. Following the completion of the transaction, the chief operating officer now owns 1,007,207 shares of the company’s stock, valued at $42,816,369.57. The trade was a 10.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,300,761 shares of company stock worth $51,271,197 over the last 90 days.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC purchased a new stake in Tempus AI during the third quarter worth about $1,367,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Tempus AI by 1,591.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Tempus AI in the 3rd quarter worth approximately $2,726,000. Sigma Planning Corp acquired a new position in Tempus AI during the third quarter worth $1,323,000. Finally, Dakota Wealth Management purchased a new stake in Tempus AI during the third quarter worth $1,185,000. 24.22% of the stock is 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.