Tempus AI, Inc. (NASDAQ:TEM) Sees Significant Increase in Short Interest

Tempus AI, Inc. (NASDAQ:TEM) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 5,110,000 shares, an increase of 22.2% from the November 15th total of 4,180,000 shares. Currently, 10.3% of the shares of the stock are sold short. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is currently 4.1 days.

Insider Transactions at Tempus AI

In other news, EVP Andrew Polovin sold 51,504 shares of Tempus AI stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the transaction, the executive vice president now owns 246,085 shares of the company’s stock, valued at $10,431,543.15. The trade was a 17.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 16,164,449 shares in the company, valued at $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,949 shares of company stock valued at $27,821,944 in the last ninety days.

Hedge Funds Weigh In On Tempus AI

Several institutional investors and hedge funds have recently bought and sold shares of TEM. NEA Management Company LLC boosted its holdings in shares of 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 purchasing an additional 813,169 shares during the last quarter. Novo Holdings A S acquired a new position in Tempus AI in the second quarter valued at $142,605,000. Revolution Growth Management Company Inc. purchased a new stake in Tempus AI during the second quarter valued at about $128,133,000. ARK Investment Management LLC increased its stake in Tempus AI by 355.0% during the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after acquiring an additional 1,855,459 shares during the last quarter. Finally, Alphabet Inc. acquired a new stake in Tempus AI during the second quarter worth about $54,289,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

Tempus AI Trading Down 2.4 %

Shares of NASDAQ TEM traded down $0.99 on Friday, reaching $41.00. 5,058,569 shares of the company traded hands, compared to its average volume of 2,438,622. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $79.49. 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 firm’s 50 day moving average is $52.64.

Wall Street Analyst Weigh In

TEM has been the subject of several research reports. Loop Capital lifted their price objective on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Guggenheim began coverage on Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective on the stock. Bank of America lifted their price objective on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Wolfe Research started coverage on shares of Tempus AI in a report on Friday. They issued an “outperform” rating and a $60.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.00.

About Tempus AI

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.