Tempus AI (NASDAQ:TEM) Stock Price Up 2% - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price rose 2% on Wednesday . The stock traded as high as $56.46 and last traded at $52.06. Approximately 6,193,066 shares traded hands during trading, a decline of 33% from the average daily volume of 9,221,391 shares. The stock had previously closed at $51.02.

Analysts Set New Price Targets

A number of analysts recently issued reports on TEM shares. Wolfe Research assumed coverage on shares of Tempus AI in a report on Friday, December 13th. They set an "outperform" rating and a $60.00 price target on the stock. Guggenheim initiated coverage on Tempus AI in a research report on Monday, December 9th. They set a "buy" rating and a $74.00 target price on the stock. Loop Capital reduced 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. Needham & Company LLC reissued a "buy" rating and issued a $56.00 price objective on shares of Tempus AI in a report on Tuesday, January 14th. Finally, Stifel Nicolaus downgraded Tempus AI from a "buy" rating to a "hold" rating and upped their target price for the stock from $45.00 to $65.00 in a research note 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 a consensus price target of $56.36.

Tempus AI Price Performance

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 firm's 50 day moving average is $44.18 and its 200-day moving average is $48.23.

Insider Activity at Tempus AI

In other news, CAO Ryan M. Bartolucci sold 13,770 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $60.00, for a total transaction 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. This trade represents a 19.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the completion of the transaction, the insider now directly owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,037,702 shares of company stock valued at $89,449,651.

Institutional Trading of Tempus AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new stake in Tempus AI during the 3rd quarter worth approximately $30,000. FNY Investment Advisers LLC purchased a new position in shares of Tempus AI in the 4th quarter valued at about $67,000. Vestor Capital LLC acquired a new stake in Tempus AI during the third quarter worth approximately $153,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Tempus AI during the 4th quarter worth $178,000. Finally, Stifel Financial Corp acquired a new stake in shares of Tempus AI during the third quarter worth about $218,000. Hedge funds and other institutional investors own 24.22% of the company's stock.

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.