Tempus AI (NASDAQ:TEM) Stock Price Up 14.9% - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) was up 14.9% during mid-day trading on Thursday . The stock traded as high as $85.71 and last traded at $84.90. Approximately 15,252,055 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 12,909,801 shares. The stock had previously closed at $73.88.

Analyst Ratings Changes

Several research analysts have commented on TEM shares. TD Cowen reissued a "buy" rating and issued a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Stifel Nicolaus lowered Tempus AI from a "buy" rating to a "hold" rating and boosted their price target for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Bank of America increased their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Wolfe Research assumed coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an "outperform" rating and a $60.00 target price on the stock. Finally, Guggenheim started coverage on shares of Tempus AI in a report on Monday, December 9th. They set a "buy" rating and a $74.00 price target for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.55.

Tempus AI Price Performance

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 company has a fifty day moving average of $47.46 and a two-hundred day moving average of $50.72.

Insider Activity at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total value of $2,183,254.56. Following the sale, the executive vice president now directly owns 246,085 shares of the company's stock, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $60.00, for a total value of $826,200.00. Following the completion of the sale, the chief accounting officer now owns 57,237 shares in the company, valued at $3,434,220. The trade was a 19.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,401,779 shares of company stock valued at $115,707,361.

Institutional Trading of Tempus AI

Several hedge funds have recently bought and sold shares of TEM. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tempus AI in the third quarter valued at approximately $1,367,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tempus AI in the 4th quarter valued at approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Tempus AI by 1,591.2% during the 3rd 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Tempus AI during the 4th quarter worth $178,000. Finally, Captrust Financial Advisors bought a new position in shares of Tempus AI in the third quarter worth $2,726,000. 24.22% of the stock is currently 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.