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

Tempus AI, Inc. (NASDAQ:TEM) gapped up before the market opened on Tuesday . The stock had previously closed at $35.15, but opened at $42.84. Tempus AI shares last traded at $46.47, with a volume of 6,882,720 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America raised 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. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and boosted their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Wolfe Research started coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. Guggenheim initiated coverage on shares of Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 target price for the company. Finally, Piper Sandler restated a “neutral” rating and set a $70.00 price target (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.36.

Tempus AI Price Performance

The stock’s fifty day moving average price is $44.42 and its two-hundred day moving average price is $47.41. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insiders Place Their Bets

In other news, EVP Andrew Polovin sold 51,504 shares of the company’s stock in a transaction dated 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 directly owns 246,085 shares of the company’s stock, valued at approximately $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the transaction, the insider now owns 16,164,449 shares in the company, valued at approximately $694,263,084.55. This represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,300,761 shares of company stock valued at $51,271,197 in the last ninety days.

Institutional Investors Weigh In On Tempus AI

A number of large investors have recently modified their holdings of the stock. NEA Management Company LLC grew its stake in Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after purchasing an additional 813,169 shares during the period. Novo Holdings A S purchased a new stake in shares of Tempus AI in the 2nd quarter worth about $142,605,000. ARK Investment Management LLC increased its stake 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 acquiring an additional 1,855,459 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Tempus AI by 1,591.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Tempus AI by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock valued at $45,920,000 after acquiring an additional 8,387 shares during the period. Institutional investors 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.