Short Interest in Tempus AI, Inc. (NASDAQ:TEM) Rises By 21.4%

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 17,210,000 shares, a growth of 21.4% from the February 28th total of 14,180,000 shares. Currently, 22.1% of the shares of the stock are sold short. Based on an average daily volume of 12,430,000 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TEM shares. William Blair reissued a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Piper Sandler cut their target price on Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Bank of America raised their price target on Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. TD Cowen reaffirmed a "buy" rating and issued a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, Morgan Stanley lifted their target price on Tempus AI from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $61.18.

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Insider Buying and Selling at Tempus AI

In other Tempus AI news, major shareholder Bradley A. Keywell sold 170,720 shares of the business's 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 sale, the insider now directly owns 15,993,729 shares of the company's stock, valued at $566,977,693.05. The trade was a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ryan Fukushima sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $39.61, for a total value of $792,200.00. Following the completion of the sale, the chief operating officer now directly owns 982,442 shares of the company's stock, valued at $38,914,527.62. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,601,969 shares of company stock worth $317,330,782 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its position in shares of Tempus AI by 132.1% in the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock worth $186,343,000 after purchasing an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after buying an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after buying an additional 2,021,394 shares during the period. Franklin Resources Inc. lifted its holdings in Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after buying an additional 1,950,862 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock valued at $55,836,000 after acquiring an additional 1,651,996 shares in the last quarter. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Stock Performance

Shares of Tempus AI stock traded down $2.79 during trading on Thursday, hitting $47.10. 1,609,174 shares of the stock traded hands, compared to its average volume of 5,270,833. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The stock's fifty day simple moving average is $58.62 and its 200 day simple moving average is $51.55. Tempus AI has a 52-week low of $22.89 and a 52-week high of $91.45.

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.