Tempus AI (NASDAQ:TEM) Trading 6.8% Higher - Here's Why

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s share price traded up 6.8% during trading on Monday . The stock traded as high as $91.45 and last traded at $89.44. 25,048,636 shares changed hands during trading, an increase of 93% from the average session volume of 12,947,475 shares. The stock had previously closed at $83.75.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America raised their price objective on Tempus AI from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Stifel Nicolaus downgraded Tempus AI from a "buy" rating to a "hold" rating and raised their price objective for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. TD Cowen reaffirmed a "buy" rating and set a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price objective on shares of Tempus AI in a research note on Tuesday, January 14th. Finally, Guggenheim assumed coverage on Tempus AI in a research note on Monday, December 9th. They set a "buy" rating and a $74.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.55.

Tempus AI Price Performance

The stock has a fifty day simple moving average of $49.75 and a 200-day simple moving average of $51.44. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Activity

In related news, CAO Ryan M. Bartolucci sold 13,770 shares of Tempus AI stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the completion of the transaction, the chief accounting officer now owns 57,237 shares in the company, valued at approximately $3,434,220. This trade represents a 19.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David R. Epstein sold 620 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total value of $25,922.20. Following the transaction, the director now owns 27,894 shares of the company's stock, valued at $1,166,248.14. The trade was a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,583,467 shares of company stock worth $130,542,311 in the last quarter.

Institutional Investors Weigh In On Tempus AI

Hedge funds have recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC acquired a new stake in Tempus AI during the third quarter worth approximately $1,367,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tempus AI during the fourth quarter worth approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company's stock valued at $68,922,000 after buying an additional 1,145,698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Tempus AI in the fourth quarter valued at approximately $178,000. Finally, Captrust Financial Advisors acquired a new stake in Tempus AI during the third quarter worth approximately $2,726,000. 24.22% of the stock is currently 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.