Tempus AI (NASDAQ:TEM) Stock Price Up 5.7% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s share price shot up 5.7% on Monday . The company traded as high as $41.36 and last traded at $40.44. 2,159,741 shares changed hands during trading, a decline of 33% from the average session volume of 3,243,271 shares. The stock had previously closed at $38.25.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TEM. Guggenheim began coverage on shares of Tempus AI in a report on Monday, December 9th. They set a “buy” rating and a $74.00 target price on the stock. Loop Capital upped their target price 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. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and upped their target price for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Wolfe Research began coverage on shares of Tempus AI in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. Finally, Bank of America upped their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Tempus AI currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Price Performance

The stock’s 50 day moving average price is $48.93 and its 200-day moving average price is $46.86. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insider Activity

In other Tempus AI news, Director David R. Epstein sold 620 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the completion of the sale, the director now owns 27,894 shares of the company’s stock, valued at $1,166,248.14. This represents a 2.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Ryan Fukushima sold 120,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.51, for a total transaction of $5,101,200.00. Following the sale, the chief operating officer now directly owns 1,007,207 shares of the company’s stock, valued at $42,816,369.57. The trade was a 10.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 845,041 shares of company stock valued at $35,125,473.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently added to or reduced their stakes in the company. Silverleafe Capital Partners LLC purchased a new stake in Tempus AI during the 4th quarter valued at $533,000. Franklin Resources Inc. raised its holdings in Tempus AI by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock worth $45,920,000 after purchasing an additional 8,387 shares in the last quarter. Tidal Investments LLC bought a new position in Tempus AI in the 3rd quarter worth $7,633,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Tempus AI by 6.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 126,500 shares of the company’s stock worth $7,160,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after acquiring an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.