Tempus AI (NASDAQ:TEM) Shares Gap Up – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $43.23, but opened at $47.32. Tempus AI shares last traded at $48.61, with a volume of 4,415,562 shares.

Analyst Upgrades and Downgrades

TEM has been the subject of a number of research analyst reports. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut shares of Tempus AI from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Piper Sandler reduced their price objective on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.08.

Tempus AI Stock Up 8.0 %

The firm’s fifty day moving average is $50.50 and its 200 day moving average is $50.40. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Buying and Selling at Tempus AI

In related news, Director Wayne A.I. Frederick sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $45.54, for a total transaction of $136,620.00. Following the transaction, the director now owns 26,514 shares of the company’s stock, valued at approximately $1,207,447.56. This trade represents a 10.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the completion of the sale, the chief accounting officer now directly owns 57,237 shares of the company’s stock, valued at $3,434,220. This represents a 19.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,584,252 shares of company stock valued at $272,870,580 in the last quarter.

Institutional Investors Weigh In On Tempus AI

Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. bought a new position in shares of Tempus AI in the fourth quarter valued at approximately $216,000. China Universal Asset Management Co. Ltd. bought a new position in Tempus AI in the 4th quarter worth $1,091,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Tempus AI during the 4th quarter worth $178,000. abrdn plc bought a new stake in Tempus AI during the fourth quarter valued at about $2,784,000. Finally, Dakota Wealth Management grew its position in shares of Tempus AI by 189.7% in the fourth quarter. Dakota Wealth Management now owns 60,668 shares of the company’s stock valued at $2,048,000 after purchasing an additional 39,724 shares during the last quarter. Institutional investors and hedge funds 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.