Tempus AI (NASDAQ:TEM) Stock Price Up 13.1% - Here's Why

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shot up 13.1% during mid-day trading on Monday . The stock traded as high as $57.69 and last traded at $58.10. 6,508,913 shares changed hands during trading, a decline of 52% from the average session volume of 13,653,986 shares. The stock had previously closed at $51.35.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TEM. Loop Capital decreased their price objective on shares of Tempus AI from $57.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut Tempus AI from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Wolfe Research lowered shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. TD Cowen restated a "buy" rating and set a $74.00 target price (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Finally, Morgan Stanley boosted their price target on Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tempus AI currently has an average rating of "Moderate Buy" and a consensus target price of $61.18.

Tempus AI Price Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The company's 50-day moving average price is $58.38 and its 200 day moving average price is $51.52.

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Insider Activity at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 3,240,234 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the sale, the chief executive officer now directly owns 4,895,589 shares of the company's stock, valued at approximately $287,615,853.75. This represents a 39.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Ryan Fukushima sold 20,000 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total value of $792,200.00. Following the completion of the transaction, the chief operating officer now directly owns 982,442 shares of the company's stock, valued at approximately $38,914,527.62. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,598,969 shares of company stock valued at $317,194,162 over the last ninety days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its holdings in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock valued at $186,343,000 after acquiring an additional 3,141,487 shares during the period. NEA Management Company LLC grew its holdings in Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company's stock valued at $304,846,000 after buying an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in 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 valued at $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in Tempus AI by 166.0% in the fourth quarter. Nikko Asset Management Americas 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. Finally, Franklin Resources Inc. increased its holdings in Tempus AI by 240.5% in the 4th 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 last quarter. 24.22% of the stock is owned by institutional investors and hedge funds.

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.