Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 3,894,953 shares were traded during trading, a decline of 24% from the previous session's volume of 5,108,802 shares.The stock last traded at $59.27 and had previously closed at $59.00.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TEM. Needham & Company LLC lifted their price target on Tempus AI from $56.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Guggenheim reissued a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an "overweight" rating to a "neutral" rating and upped their price target for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. William Blair reiterated a "market perform" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Finally, Piper Sandler cut their target price on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Tempus AI presently has an average rating of "Moderate Buy" and an average target price of $61.18.

Tempus AI Price Performance

The business's 50 day simple moving average is $58.13 and its 200-day simple moving average is $51.48. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

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Insider Buying and Selling

In other Tempus AI news, EVP Andrew Polovin sold 13,135 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total transaction of $603,947.30. Following the transaction, the executive vice president now directly owns 154,171 shares in the company, valued at $7,088,782.58. This trade represents a 7.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nadja West sold 809 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the sale, the director now owns 37,705 shares of the company's stock, valued at approximately $1,927,102.55. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC bought a new stake in Tempus AI during the third quarter worth approximately $1,367,000. Victory Capital Management Inc. acquired a new stake in shares of Tempus AI in the fourth quarter worth $216,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tempus AI during the 4th quarter worth $1,091,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Tempus AI in the 4th quarter valued at $178,000. Finally, Captrust Financial Advisors acquired a new position in Tempus AI in the 3rd quarter valued at $2,726,000. 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.