Tempus AI, Inc. (NASDAQ:TEM) Sees Large Growth in Short Interest

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 6,140,000 shares, an increase of 20.2% from the November 30th total of 5,110,000 shares. Based on an average daily trading volume, of 1,970,000 shares, the short-interest ratio is currently 3.1 days. Approximately 10.5% of the company's stock are sold short.

Insider Activity at Tempus AI

In other news, EVP Andrew Polovin sold 51,504 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the transaction, the executive vice president now owns 246,085 shares in the company, valued at approximately $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the sale, the insider now owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 845,041 shares of company stock valued at $35,125,473 in the last 90 days.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds have recently modified their holdings of TEM. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the 3rd quarter valued at about $30,000. Sandia Investment Management LP purchased a new position in Tempus AI during the second quarter valued at approximately $136,000. Vestor Capital LLC bought a new position in shares of Tempus AI in the third quarter worth approximately $153,000. Stifel Financial Corp purchased a new stake in shares of Tempus AI in the third quarter worth $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Tempus AI in the third quarter worth $258,000. Institutional investors own 24.22% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on TEM shares. Guggenheim assumed coverage on Tempus AI in a research note on Monday, December 9th. They set a "buy" rating and a $74.00 target price on the stock. Bank of America upped their price target on Tempus AI from $52.00 to $54.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Loop Capital lifted their price objective on Tempus AI from $48.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Wolfe Research started coverage on Tempus AI in a research report on Friday, December 13th. They issued an "outperform" rating and a $60.00 target price for the company. Finally, Stifel Nicolaus downgraded shares of Tempus AI from a "buy" rating to a "hold" rating and raised their price target for the company from $45.00 to $65.00 in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.00.

Tempus AI Stock Performance

NASDAQ TEM traded down $0.17 during trading hours on Friday, hitting $35.12. 4,444,572 shares of the company's stock traded hands, compared to its average volume of 1,624,103. Tempus AI has a 52 week low of $22.89 and a 52 week high of $79.49. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The stock has a fifty day simple moving average of $50.06.

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.