Tempus AI (NASDAQ:TEM) Stock Price Up 6.3% - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) traded up 6.3% during mid-day trading on Thursday . The stock traded as high as $58.51 and last traded at $53.97. 8,464,662 shares were traded during mid-day trading, a decline of 10% from the average session volume of 9,355,592 shares. The stock had previously closed at $50.77.

Analysts Set New Price Targets

TEM has been the topic of a number of recent research reports. Bank of America boosted their price objective on Tempus AI from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Loop Capital reduced their price target on Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Stifel Nicolaus cut Tempus AI from a "buy" rating to a "hold" rating and upped their price target for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Guggenheim assumed coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a "buy" rating and a $74.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $56.00 price target on shares of Tempus AI in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.36.

Tempus AI Price Performance

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 company has a fifty day moving average price of $44.14 and a 200 day moving average price of $48.44.

Insider Buying and Selling

In related news, CAO Ryan M. Bartolucci sold 13,770 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total value of $826,200.00. Following the sale, the chief accounting officer now directly owns 57,237 shares in the company, valued at $3,434,220. This trade represents a 19.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric P. Lefkofsky sold 82,056 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $58.21, for a total value of $4,776,479.76. Following the transaction, the chief executive officer now owns 5,532,987 shares of the company's stock, valued at $322,075,173.27. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,037,702 shares of company stock worth $89,449,651 in the last three months.

Hedge Funds Weigh In On Tempus AI

Large investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after acquiring an additional 2,021,394 shares in the last quarter. ARK Investment Management LLC boosted its stake in Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company's stock valued at $134,604,000 after purchasing an additional 1,855,459 shares in the last quarter. NEA Management Company LLC increased 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 valued at $304,846,000 after purchasing an additional 813,169 shares during the period. Millennium Management LLC bought a new stake in shares of Tempus AI in the 2nd quarter worth $8,067,000. Finally, Carnegie Investment Counsel acquired a new stake in shares of Tempus AI in the third quarter valued at $7,936,000. Institutional investors and hedge funds 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.