Tempus AI (NASDAQ:TEM) Trading 11.3% Higher – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price traded up 11.3% during trading on Friday . The company traded as high as $46.07 and last traded at $46.94. 4,486,208 shares traded hands during trading, a decline of 8% from the average session volume of 4,902,042 shares. The stock had previously closed at $42.17.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. downgraded Tempus AI from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Piper Sandler reduced their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. TD Cowen reaffirmed a “buy” rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Finally, Bank of America raised their price target on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Performance

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 has a 50-day moving average of $55.15 and a 200 day moving average of $51.92.

Insider Activity at Tempus AI

In other news, CEO Eric P. Lefkofsky sold 562,345 shares of Tempus AI stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $50.93, for a total transaction of $28,640,230.85. Following the transaction, the chief executive officer now directly owns 9,457,283 shares in the company, valued at approximately $481,659,423.19. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bradley A. Keywell sold 265,000 shares of Tempus AI stock in a transaction on Friday, January 17th. The shares were sold at an average price of $35.10, for a total value of $9,301,500.00. Following the transaction, the insider now owns 15,218,365 shares in the company, valued at approximately $534,164,611.50. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,755,906 shares of company stock worth $322,788,693 in the last three months.

Hedge Funds Weigh In On Tempus AI

Several hedge funds have recently modified their holdings of TEM. GSA Capital Partners LLP acquired a new position in shares of Tempus AI during the 3rd quarter valued at $306,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Tempus AI by 1,591.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after acquiring an additional 1,145,698 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Tempus AI in the 3rd quarter worth $30,000. The Manufacturers Life Insurance Company grew its holdings in shares of Tempus AI by 10.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after acquiring an additional 2,765 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of Tempus AI in the 3rd quarter worth $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.