Short Interest in Tempus AI, Inc. (NASDAQ:TEM) Rises By 19.2%

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,470,000 shares, an increase of 19.2% from the October 15th total of 2,910,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is presently 3.0 days. Approximately 6.8% of the company's stock are sold short.

Institutional Trading of Tempus AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EFG Asset Management North America Corp. bought a new stake in shares of Tempus AI in the 2nd quarter worth about $1,333,000. ARK Investment Management LLC bought a new stake in Tempus AI during the second quarter worth about $18,294,000. Northwestern University bought a new stake in Tempus AI during the 2nd quarter worth approximately $491,000. Alphabet Inc. bought a new stake in Tempus AI during the 2nd quarter worth approximately $54,289,000. Finally, Pier Capital LLC bought a new stake in Tempus AI during the 2nd quarter worth approximately $2,301,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TEM. Loop Capital upped their target price on Tempus AI from $48.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Piper Sandler restated a "neutral" rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday. Stifel Nicolaus lowered shares of Tempus AI from a "buy" rating to a "hold" rating and increased their price target for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Needham & Company LLC reissued a "buy" rating and set a $47.00 target price on shares of Tempus AI in a research report on Wednesday, August 7th. Finally, Bank of America downgraded shares of Tempus AI from a "buy" rating to a "neutral" rating and increased their target price for the stock from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Tempus AI presently has a consensus rating of "Moderate Buy" and an average target price of $54.22.

Tempus AI Stock Performance

Shares of TEM traded down $4.23 on Friday, reaching $52.40. 1,600,845 shares of the stock traded hands, compared to its average volume of 1,193,641. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. Tempus AI has a 12 month low of $22.89 and a 12 month high of $79.49. The stock's 50-day moving average is $51.25.

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.