Tempus AI (NASDAQ:TEM) Sees Large Volume Increase – Here’s What Happened

Shares of Tempus AI, Inc. (NASDAQ:TEM) saw unusually-strong trading volume on Thursday . Approximately 2,229,842 shares changed hands during trading, an increase of 68% from the previous session’s volume of 1,330,919 shares.The stock last traded at $44.95 and had previously closed at $43.19.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TEM. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Bank of America boosted 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. Guggenheim began coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 target price for the company. Loop Capital increased their price objective on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research started coverage on Tempus AI in a research report on Friday. They set an “outperform” rating and a $60.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Price Performance

The business has a 50-day moving average price of $52.64. 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 Transactions at Tempus AI

In other news, CFO James William Rogers sold 83,025 shares of the company’s 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 transaction, the chief financial officer now owns 231,280 shares of the company’s stock, valued at approximately $9,783,144. This represents a 26.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David R. Epstein sold 620 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total value of $25,922.20. Following the sale, the director now directly owns 27,894 shares of the company’s stock, valued at $1,166,248.14. This represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 650,949 shares of company stock worth $27,821,944.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the third quarter worth approximately $30,000. Geode Capital Management LLC increased its position in Tempus AI by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after purchasing an additional 539 shares during the period. Vestor Capital LLC purchased a new position in Tempus AI during the third quarter valued at approximately $153,000. The Manufacturers Life Insurance Company increased 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 valued at $1,686,000 after acquiring an additional 2,765 shares during the period. Finally, Stifel Financial Corp bought a new position in shares of Tempus AI during the 3rd quarter worth approximately $218,000. Institutional investors own 24.22% of the company’s stock.

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.