Tempus AI (NASDAQ:TEM) Shares Up 7.4% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM) rose 7.4% during mid-day trading on Friday . The stock traded as high as $35.53 and last traded at $35.48. Approximately 2,141,394 shares changed hands during mid-day trading, an increase of 38% from the average daily volume of 1,553,387 shares. The stock had previously closed at $33.03.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TEM. Piper Sandler reissued 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, November 12th. Guggenheim began coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 target price for the company. Bank of America upped their price target on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Wolfe Research assumed coverage on Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Loop Capital boosted their target price on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Stock Up 7.6 %

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The company has a 50 day moving average of $51.44.

Insiders Place Their Bets

In other news, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the transaction, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at $358,780,403.82. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James William Rogers sold 83,025 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $3,511,957.50. Following the completion of the sale, the chief financial officer now directly owns 231,280 shares of the company’s stock, valued at $9,783,144. This represents a 26.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 845,041 shares of company stock worth $35,125,473.

Institutional Trading of Tempus AI

Institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. purchased a new stake in Tempus AI in the 3rd quarter worth $30,000. Sandia Investment Management LP purchased a new stake in shares of Tempus AI during the second quarter worth about $136,000. Vestor Capital LLC bought a new stake in Tempus AI during the 3rd quarter valued at approximately $153,000. Stifel Financial Corp bought a new stake in Tempus AI during the 3rd quarter valued at approximately $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Tempus AI in the 3rd quarter worth approximately $258,000. 24.22% of the stock is currently owned by institutional investors.

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.