Tempus AI (NASDAQ:TEM) Trading Up 0.6% - What's Next?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) rose 0.6% during mid-day trading on Friday . The stock traded as high as $56.71 and last traded at $55.63. Approximately 7,470,268 shares traded hands during trading, a decline of 50% from the average daily volume of 14,855,095 shares. The stock had previously closed at $55.30.

Analysts Set New Price Targets

TEM has been the topic of several research analyst reports. Stifel Nicolaus lowered shares of Tempus AI from a "buy" rating to a "hold" rating and increased their target price for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Guggenheim reissued a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Wolfe Research lowered shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Piper Sandler reaffirmed a "neutral" rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Finally, Loop Capital dropped their price objective on shares of Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tempus AI currently has a consensus rating of "Moderate Buy" and an average price target of $61.09.

Tempus AI Price Performance

The company's fifty day moving average price is $52.70 and its 200 day moving average price is $52.52. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

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Insider Activity

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction dated 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 sale, the insider now owns 16,164,449 shares in the company, valued at $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew Polovin sold 51,504 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the sale, the executive vice president now owns 246,085 shares of the company's stock, valued at $10,431,543.15. This trade represents a 17.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,823,701 shares of company stock worth $320,906,059 over the last quarter.

Institutional Trading of Tempus AI

A number of large investors have recently added to or reduced their stakes in TEM. Operose Advisors LLC purchased a new stake in Tempus AI during the fourth quarter worth about $25,000. First Horizon Advisors Inc. purchased a new stake in Tempus AI during the third quarter worth about $30,000. Farther Finance Advisors LLC purchased a new stake in Tempus AI during the fourth quarter worth about $34,000. Prestige Wealth Management Group LLC boosted its position in Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after purchasing an additional 965 shares during the period. Finally, NewEdge Advisors LLC bought a new position in Tempus AI during the fourth quarter worth about $49,000. 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.