Short Interest in Tempus AI, Inc. (NASDAQ:TEM) Rises By 42.2%

Tempus AI, Inc. (NASDAQ:TEM) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 8,730,000 shares, an increase of 42.2% from the December 15th total of 6,140,000 shares. Currently, 17.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,340,000 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analyst Weigh In

A number of analysts recently commented on TEM shares. Bank of America upped their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Piper Sandler restated a “neutral” rating and issued a $70.00 price target (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Needham & Company LLC reiterated a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a report on Tuesday. Guggenheim began coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 target price for the company. Finally, Loop Capital cut their price target 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Tempus AI has an average rating of “Moderate Buy” and an average price target of $56.36.

Tempus AI Price Performance

NASDAQ:TEM traded down $0.21 during mid-day trading on Thursday, reaching $34.71. 2,488,269 shares of the company’s stock were exchanged, compared to its average volume of 4,020,976. Tempus AI has a one year low of $22.89 and a one year high of $79.49. 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’s fifty day simple moving average is $47.24 and its two-hundred day simple moving average is $47.17.

Insider Buying and Selling

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares in the company, valued at approximately $10,431,543.15. The trade was a 17.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David R. Epstein sold 620 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total value of $25,922.20. Following the completion of the transaction, the director now owns 27,894 shares in the company, valued at $1,166,248.14. This represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 865,041 shares of company stock worth $35,917,673 in the last 90 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TEM. Kovitz Investment Group Partners LLC acquired a new stake in Tempus AI during the third quarter worth approximately $1,367,000. Sumitomo Mitsui Trust Group Inc. grew its holdings 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 purchasing an additional 1,145,698 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Tempus AI in the third quarter worth $2,726,000. Dakota Wealth Management acquired a new position in Tempus AI in the third quarter valued at about $1,185,000. Finally, Sigma Planning Corp bought a new stake in Tempus AI during the third quarter worth about $1,323,000. 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.