Tempus AI (NASDAQ:TEM) Stock Price Up 0.8% - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price shot up 0.8% during trading on Monday . The company traded as high as $45.98 and last traded at $42.93. 6,639,738 shares were traded during trading, an increase of 24% from the average session volume of 5,338,106 shares. The stock had previously closed at $42.58.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TEM shares. Wolfe Research lowered Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. TD Cowen reiterated a "buy" rating and issued a $74.00 target price (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Bank of America raised their price target on Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Guggenheim reaffirmed a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Morgan Stanley raised their target price on shares of Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tempus AI has a consensus rating of "Moderate Buy" and an average price target of $61.18.

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 stock's 50-day moving average is $56.58 and its 200 day moving average is $50.97.

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Insider Activity

In other Tempus AI news, Director Nadja West sold 809 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total transaction of $41,347.99. Following the sale, the director now owns 37,705 shares of the company's stock, valued at approximately $1,927,102.55. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bradley A. Keywell sold 170,720 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $35.45, for a total value of $6,052,024.00. Following the completion of the transaction, the insider now directly owns 15,993,729 shares in the company, valued at approximately $566,977,693.05. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,581,969 shares of company stock worth $316,538,582.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently modified their holdings of TEM. ARK Investment Management LLC raised its position in Tempus AI by 132.1% during the 4th 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 last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake 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 worth $109,352,000 after acquiring an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in shares of Tempus AI by 166.0% during the fourth 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 position in Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock valued at $93,251,000 after purchasing an additional 1,950,862 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Tempus AI by 86,947.2% in 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 during the last quarter. Institutional investors and hedge funds own 24.22% of the company's stock.

Tempus AI Company Profile

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.