Tempus AI (NASDAQ:TEM) Stock Price Up 1.6% - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s stock price traded up 1.6% during mid-day trading on Monday . The stock traded as high as $71.23 and last traded at $70.09. 8,219,791 shares were traded during trading, a decline of 29% from the average session volume of 11,580,188 shares. The stock had previously closed at $68.96.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America increased their target price on Tempus AI from $52.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Wolfe Research assumed coverage on Tempus AI in a research report on Friday, December 13th. They set an "outperform" rating and a $60.00 target price for the company. Stifel Nicolaus cut Tempus AI from a "buy" rating to a "hold" rating and increased their target price for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. TD Cowen reiterated a "buy" rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, William Blair cut Tempus AI from an "outperform" rating to a "market perform" rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI presently has a consensus rating of "Moderate Buy" and an average price target of $58.55.

Tempus AI Price Performance

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The stock has a 50 day moving average of $45.82 and a 200-day moving average of $49.97.

Insider Buying and Selling

In related news, EVP Andrew Polovin sold 51,504 shares of the business's 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 transaction, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. The trade was a 17.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $60.00, for a total value of $826,200.00. Following the sale, the chief accounting officer now owns 57,237 shares in the company, valued at approximately $3,434,220. The trade was a 19.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,229,449 shares of company stock valued at $102,293,124.

Hedge Funds Weigh In On Tempus AI

Hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC raised its stake in shares of Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock valued at $186,343,000 after acquiring an additional 3,141,487 shares in the last quarter. NEA Management Company LLC grew its holdings in shares of Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company's stock worth $304,846,000 after buying an additional 813,169 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in Tempus AI by 166.0% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock valued at $93,251,000 after acquiring an additional 1,950,862 shares during the period. Institutional investors and hedge funds 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.