Short Interest in Tempus AI, Inc. (NASDAQ:TEM) Grows By 19.2%

Tempus AI, Inc. (NASDAQ:TEM) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,470,000 shares, an increase of 19.2% from the October 15th total of 2,910,000 shares. Approximately 6.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,150,000 shares, the short-interest ratio is currently 3.0 days.

Institutional Trading of Tempus AI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after purchasing an additional 539 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Tempus AI during the third quarter valued at about $502,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Tempus AI during the third quarter worth about $1,367,000. Stifel Financial Corp bought a new stake in shares of Tempus AI in the third quarter worth about $218,000. Finally, Benjamin Edwards Inc. purchased a new position in Tempus AI during the 3rd quarter valued at about $725,000.

Tempus AI Trading Down 7.5 %

Shares of NASDAQ TEM traded down $4.23 during midday trading on Friday, reaching $52.40. The company had a trading volume of 1,600,845 shares, compared to its average volume of 1,193,641. Tempus AI has a one year low of $22.89 and a one year high of $79.49. The company’s fifty day simple moving average is $51.25. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Wall Street Analysts Forecast Growth

TEM has been the topic of several research analyst reports. Bank of America cut shares of Tempus AI from a “buy” rating to a “neutral” rating and upped their price target for the stock from $45.00 to $60.00 in a report on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $47.00 price objective on shares of Tempus AI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Loop Capital increased their price target on shares of Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.22.

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.