Tempus AI (NASDAQ:TEM) Shares Gap Up – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) gapped up before the market opened on Thursday . The stock had previously closed at $50.77, but opened at $52.82. Tempus AI shares last traded at $55.66, with a volume of 2,764,572 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Guggenheim assumed coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Wolfe Research assumed coverage on shares of Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective for the company. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and upped their target price for the company from $45.00 to $65.00 in a report on Monday, November 11th. Piper Sandler reiterated a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Finally, Bank of America upped their price objective on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.36.

Tempus AI Stock Performance

The stock has a 50 day moving average price of $44.11 and a two-hundred day moving average price of $47.97. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Buying and Selling

In other news, CEO Eric P. Lefkofsky sold 85,788 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $53.39, for a total transaction of $4,580,221.32. Following the sale, the chief executive officer now directly owns 5,771,787 shares in the company, valued at approximately $308,155,707.93. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 1,862,758 shares of company stock valued at $79,585,675 over the last 90 days.

Hedge Funds Weigh In On Tempus AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after acquiring an additional 2,021,394 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Tempus AI by 355.0% in the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the period. NEA Management Company LLC boosted its stake in shares of Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Tempus AI during the second quarter worth $8,067,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tempus AI during the second quarter worth $5,250,000. 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.