Tempus AI (NASDAQ:TEM) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Tempus AI, Inc. (NASDAQ:TEM) saw unusually-high trading volume on Tuesday after Needham & Company LLC raised their price target on the stock from $56.00 to $70.00. Needham & Company LLC currently has a buy rating on the stock. Approximately 8,680,936 shares traded hands during trading, a decline of 39% from the previous session’s volume of 14,308,143 shares.The stock last traded at $60.60 and had previously closed at $69.57.

Other research analysts have also issued research reports about the stock. Piper Sandler reiterated a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Guggenheim assumed coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and lifted their price target for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Finally, Bank of America lifted their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.55.

Insider Transactions at Tempus AI

In other news, EVP Andrew Polovin sold 51,504 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total value of $16,999,610.00. Following the sale, the insider now owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. This represents a 2.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,583,467 shares of company stock valued at $130,542,311 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of Tempus AI by 141,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 70,750 shares of the company’s stock valued at $4,004,000 after buying an additional 70,700 shares during the last quarter. Janney Capital Management LLC bought a new stake in Tempus AI in the third quarter worth approximately $385,000. Vestor Capital LLC acquired a new position in shares of Tempus AI during the 3rd quarter worth $153,000. ARK Investment Management LLC raised its holdings in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after purchasing an additional 1,855,459 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of Tempus AI in the 3rd quarter valued at $1,323,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Stock Up 5.3 %

The firm has a 50 day moving average price of $51.84 and a 200-day moving average price of $52.24. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

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.