Tempus AI, Inc. (NASDAQ:TEM) Sees Significant Increase in Short Interest

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 17,210,000 shares, an increase of 21.4% from the February 28th total of 14,180,000 shares. Approximately 22.1% of the company's stock are short sold. Based on an average daily volume of 12,430,000 shares, the short-interest ratio is currently 1.4 days.

Analysts Set New Price Targets

TEM has been the subject of several analyst reports. William Blair reiterated a "market perform" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Guggenheim restated a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Needham & Company LLC increased their price target on shares of Tempus AI from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Piper Sandler dropped their price target on Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. downgraded Tempus AI from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.18.

Insider Activity

In related news, major shareholder Bradley A. Keywell sold 170,720 shares of Tempus AI stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the completion of the transaction, the insider now directly owns 15,993,729 shares in the company, valued at approximately $566,977,693.05. This trade represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 3,000 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $45.54, for a total value of $136,620.00. Following the transaction, the director now owns 26,514 shares in the company, valued at $1,207,447.56. This represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,601,969 shares of company stock worth $317,330,782.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Operose Advisors LLC acquired a new stake in shares of Tempus AI during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC bought a new position in Tempus AI during the fourth quarter valued at about $34,000. Prestige Wealth Management Group LLC raised its stake in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after buying an additional 965 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Tempus AI during the fourth quarter worth $49,000. Finally, First Horizon Advisors Inc. raised its position in Tempus AI by 207.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock valued at $55,000 after purchasing an additional 1,108 shares during the last quarter. 24.22% of the stock is owned by institutional investors.

Tempus AI Stock Down 7.8 %

Tempus AI stock traded down $3.59 during mid-day trading on Friday, hitting $42.58. 11,548,799 shares of the company's stock traded hands, compared to its average volume of 5,329,165. Tempus AI has a one year low of $22.89 and a one year high of $91.45. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The firm has a 50 day moving average price of $58.27 and a 200 day moving average price of $51.43.

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.