Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) saw an uptick in trading volume on Wednesday . 1,687,457 shares changed hands during mid-day trading, an increase of 15% from the previous session's volume of 1,470,047 shares.The stock last traded at $36.96 and had previously closed at $38.95.
TEM has been the topic of several recent research reports. Stifel Nicolaus downgraded Tempus AI from a "buy" rating to a "hold" rating and increased their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Loop Capital upped their price target on shares of Tempus AI from $48.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Guggenheim began coverage on shares of Tempus AI in a report on Monday, December 9th. They issued a "buy" rating and a $74.00 target price on the stock. Piper Sandler restated a "neutral" rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Finally, Bank of America lifted their price target on Tempus AI from $52.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.
Get Our Latest Stock Analysis on TEM
The business has a 50 day moving average price of $52.43. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.
In related news, major shareholder Bradley A. Keywell sold 395,800 shares of the business's stock in a transaction on 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 transaction, the insider now directly owns 16,164,449 shares in the company, valued at $694,263,084.55. The trade was a 2.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares of the company's stock, valued at approximately $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 650,949 shares of company stock valued at $27,821,944 over the last three months.
Several hedge funds have recently added to or reduced their stakes in TEM. Kovitz Investment Group Partners LLC acquired a new position in shares of Tempus AI in the 3rd quarter valued at about $1,367,000. Sumitomo Mitsui Trust Group Inc. raised its position in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company's stock valued at $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Captrust Financial Advisors acquired a new position in Tempus AI in the third quarter valued at approximately $2,726,000. Sigma Planning Corp purchased a new stake in Tempus AI in the 3rd quarter worth approximately $1,323,000. Finally, Dakota Wealth Management acquired a new stake in shares of Tempus AI during the 3rd quarter worth approximately $1,185,000. 24.22% of the stock is owned by hedge funds and other institutional investors.
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.
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