Tempus AI (NASDAQ:TEM) Stock Price Up 8.5% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) rose 8.5% during mid-day trading on Wednesday . The stock traded as high as $69.95 and last traded at $67.11. Approximately 11,987,491 shares were traded during trading, an increase of 11% from the average daily volume of 10,835,146 shares. The stock had previously closed at $61.85.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TEM shares. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Guggenheim started coverage on Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 price target on the stock. Piper Sandler reissued a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Loop Capital decreased 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 note on Tuesday, January 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Tempus AI in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.55.

Tempus AI Stock Performance

The business’s 50 day moving average price is $44.36 and its two-hundred day moving average price is $48.84. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Buying and Selling at Tempus AI

In other news, CEO Eric P. Lefkofsky sold 476,209 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $49.84, for a total transaction of $23,734,256.56. Following the sale, the chief executive officer now owns 6,502,643 shares in the company, valued at approximately $324,091,727.12. The trade was a 6.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the 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 completion of the transaction, the chief accounting officer now owns 57,237 shares of the company’s stock, valued at approximately $3,434,220. The trade was a 19.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,058,072 shares of company stock valued at $90,719,375.

Institutional Trading of Tempus AI

A number of hedge funds have recently made changes to their positions in TEM. First Horizon Advisors Inc. purchased a new stake in Tempus AI during the 3rd quarter valued at about $30,000. Geode Capital Management LLC lifted its stake in shares of Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after buying an additional 539 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Tempus AI during the fourth quarter valued at approximately $67,000. IFP Advisors Inc bought a new stake in shares of Tempus AI during the fourth quarter valued at approximately $76,000. Finally, US Bancorp DE purchased a new position in Tempus AI in the 4th quarter worth approximately $80,000. 24.22% of the stock is owned by institutional investors.

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.