Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) rose 0.2% on Wednesday . The company traded as high as $38.93 and last traded at $37.30. Approximately 4,507,440 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 5,413,016 shares. The stock had previously closed at $37.23.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on TEM. Morgan Stanley upped their price target on shares of Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price target on shares of Tempus AI in a report on Thursday. Loop Capital reduced their price objective on Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Piper Sandler decreased their price objective on Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Finally, William Blair reiterated a "market perform" rating on shares of Tempus AI in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Tempus AI presently has a consensus rating of "Moderate Buy" and an average target price of $61.18.
Get Our Latest Stock Report on Tempus AI
Tempus AI Trading Up 4.5 %
The company's 50 day moving average is $56.19 and its 200 day moving average is $50.92. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.
Insiders Place Their Bets
In related news, Director Jennifer A. Doudna sold 1,320 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $90.00, for a total value of $118,800.00. Following the completion of the sale, the director now directly owns 36,011 shares of the company's stock, valued at $3,240,990. This represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the transaction, the insider now owns 15,218,365 shares in the company, valued at approximately $534,164,611.50. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,581,969 shares of company stock worth $316,538,582 in the last three months.
Institutional Investors Weigh In On Tempus AI
Several hedge funds have recently modified their holdings of the business. ARK Investment Management LLC lifted its holdings in Tempus AI by 132.1% during the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock worth $186,343,000 after buying an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after acquiring an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Tempus AI by 166.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after purchasing an additional 1,950,862 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Tempus AI by 86,947.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock valued at $55,836,000 after purchasing an additional 1,651,996 shares in the last quarter. Hedge funds and other institutional investors own 24.22% of the company's stock.
About Tempus AI
(
Get Free Report)
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.
See Also
Before you consider Tempus AI, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tempus AI wasn't on the list.
While Tempus AI currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Like this article? Share it with a colleague.
Link copied to clipboard.
