Tempus AI (NASDAQ:TEM) Shares Gap Up - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $35.15, but opened at $42.84. Tempus AI shares last traded at $46.47, with a volume of 6,882,720 shares.

Analysts Set New Price Targets

A number of research firms have recently commented on TEM. Loop Capital lowered their price target on Tempus AI from $57.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Wolfe Research began coverage on shares of Tempus AI in a report on Friday, December 13th. They issued an "outperform" rating and a $60.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price target on shares of Tempus AI in a report on Tuesday, January 14th. Piper Sandler reiterated a "neutral" rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus lowered shares of Tempus AI from a "buy" rating to a "hold" rating and raised their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Tempus AI presently has an average rating of "Moderate Buy" and a consensus price target of $56.36.

Tempus AI Price Performance

The company has a 50-day moving average of $44.77 and a 200-day moving average of $47.39. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 187,655 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total value of $7,044,568.70. Following the transaction, the chief executive officer now owns 9,557,283 shares in the company, valued at $358,780,403.82. The trade was a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ryan Fukushima sold 120,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.51, for a total value of $5,101,200.00. Following the sale, the chief operating officer now owns 1,007,207 shares of the company's stock, valued at approximately $42,816,369.57. The trade was a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,300,761 shares of company stock worth $51,271,197 over the last ninety days.

Institutional Investors Weigh In On Tempus AI

Hedge funds have recently added to or reduced their stakes in the business. NEA Management Company LLC boosted its position in shares of Tempus AI by 17.8% during the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company's stock worth $304,846,000 after purchasing an additional 813,169 shares in the last quarter. Novo Holdings A S acquired a new position in Tempus AI during the 2nd quarter worth approximately $142,605,000. ARK Investment Management LLC boosted its holdings in Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company's stock worth $134,604,000 after acquiring an additional 1,855,459 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company's stock valued at $68,922,000 after acquiring an additional 1,145,698 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Tempus AI by 1.0% during the third quarter. Franklin Resources Inc. now owns 811,311 shares of the company's stock valued at $45,920,000 after acquiring an additional 8,387 shares in the last quarter. 24.22% of the stock is currently owned by institutional investors.

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.