Tempus AI (NASDAQ:TEM) Trading 6.3% Higher - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s share price traded up 6.3% during trading on Thursday . The company traded as high as $58.51 and last traded at $53.97. 8,464,662 shares traded hands during 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

Several equities analysts recently weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Needham & Company LLC restated a "buy" rating and set a $56.00 target price on shares of Tempus AI in a research report on Tuesday, January 14th. Stifel Nicolaus downgraded Tempus AI from a "buy" rating to a "hold" rating and increased their price target for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Loop Capital decreased their price objective on Tempus AI from $57.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, Bank of America upped their target price on Tempus AI from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.36.

Tempus AI Stock Performance

The firm's fifty day moving average is $44.11 and its 200-day moving average is $47.97. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 187,655 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the completion of the transaction, the chief executive officer now directly owns 9,557,283 shares of the company's stock, valued at $358,780,403.82. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the transaction, the insider now owns 16,164,449 shares of the company's stock, valued at $694,263,084.55. This represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,862,758 shares of company stock worth $79,585,675.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently bought and sold shares of TEM. First Horizon Advisors Inc. purchased a new stake in shares of Tempus AI in the 3rd quarter valued at about $30,000. FNY Investment Advisers LLC purchased a new position in Tempus AI during the 4th quarter worth $67,000. Vestor Capital LLC purchased a new stake in shares of Tempus AI in the third quarter valued at about $153,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Tempus AI during the fourth quarter worth about $178,000. Finally, Stifel Financial Corp purchased a new position in shares of Tempus AI during the third quarter worth about $218,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.