Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shot up 3% during trading on Thursday . The stock traded as high as $55.60 and last traded at $54.86. 3,916,729 shares traded hands during trading, a decline of 24% from the average session volume of 5,169,968 shares. The stock had previously closed at $53.25.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on TEM. Piper Sandler cut their price objective on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Bank of America lifted their price target on shares of Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Wolfe Research lowered 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 research note on Wednesday, February 5th. Finally, Loop Capital decreased their price target on Tempus AI from $57.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.18.
View Our Latest Analysis on Tempus AI
Tempus AI Stock Performance
The stock has a 50-day moving average of $58.38 and a 200 day moving average of $51.52. 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 Activity
In other news, CEO Eric P. Lefkofsky sold 3,240,234 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the sale, the chief executive officer now owns 4,895,589 shares in the company, valued at $287,615,853.75. This represents a 39.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ryan Fukushima sold 20,000 shares of the firm'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 sale, the chief operating officer now directly owns 982,442 shares in the company, valued at approximately $38,914,527.62. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,598,969 shares of company stock valued at $317,194,162 in the last ninety days.
Hedge Funds Weigh In On Tempus AI
Several large investors have recently made changes to their positions in the company. ARK Investment Management LLC increased 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 buying an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Tempus AI by 166.0% during 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 acquiring an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Tempus AI by 166.0% in the 4th quarter. Nikko Asset Management Americas 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 in the last quarter. Franklin Resources Inc. raised 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 worth $93,251,000 after purchasing an additional 1,950,862 shares during the period. 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 worth $55,836,000 after purchasing an additional 1,651,996 shares in the last quarter. 24.22% of the stock is currently owned by institutional investors and hedge funds.
About Tempus AI
(
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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.
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