Tempus AI (NASDAQ:TEM) Hits New 52-Week High – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.70 and last traded at $80.24, with a volume of 7026374 shares trading hands. The stock had previously closed at $73.88.

Analyst Upgrades and Downgrades

TEM has been the topic of a number of research analyst reports. TD Cowen reissued a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Piper Sandler restated a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Guggenheim started coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. William Blair lowered Tempus AI from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and boosted their target price for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. 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 has an average rating of “Moderate Buy” and a consensus price target of $58.55.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The business has a fifty day simple moving average of $45.21 and a two-hundred day simple moving average of $49.73.

Insider Buying and Selling

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This trade represents 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 hyperlink. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were 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 of the company’s stock, valued at approximately $3,434,220. This trade represents a 19.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,229,449 shares of company stock valued at $102,293,124.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its holdings in Tempus AI by 157.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 44,119 shares of the company’s stock valued at $1,489,000 after buying an additional 26,998 shares during the period. Wells Fargo & Company MN increased its position in Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after acquiring an additional 278 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Tempus AI in the fourth quarter valued at $1,916,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Tempus AI in the 4th quarter worth about $10,148,000. Finally, StoneX Group Inc. purchased a new position in shares of Tempus AI during the 4th quarter worth about $527,000. 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.