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

Tempus AI, Inc. (NASDAQ:TEM) gapped up before the market opened on Friday . The stock had previously closed at $35.29, but opened at $36.92. Tempus AI shares last traded at $37.10, with a volume of 1,362,172 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEM. Loop Capital raised their target price on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Guggenheim started 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 on the stock. Piper Sandler reiterated a “neutral” rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Wolfe Research initiated coverage on shares of Tempus AI in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. Finally, Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and upped their price objective for the company from $45.00 to $65.00 in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Tempus AI Stock Down 0.5 %

The firm’s 50 day simple moving average is $50.06. 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 Tempus AI news, CEO Eric P. Lefkofsky sold 187,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $37.54, for a total value of $7,044,568.70. Following the sale, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at approximately $358,780,403.82. This represents a 1.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the transaction, the executive vice president now directly owns 246,085 shares in the company, valued at $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 845,041 shares of company stock worth $35,125,473 over the last three months.

Institutional Trading of Tempus AI

Several institutional investors have recently modified their holdings of the stock. NEA Management Company LLC increased its position in shares of Tempus AI by 17.8% during 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 in the last quarter. Novo Holdings A S acquired a new stake in shares of Tempus AI in the second quarter valued at approximately $142,605,000. Revolution Growth Management Company Inc. acquired a new position in shares of Tempus AI in the 2nd quarter valued at $128,133,000. ARK Investment Management LLC raised its position in Tempus AI by 355.0% in 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 during the last quarter. Finally, Alphabet Inc. purchased a new position in Tempus AI during the 2nd quarter worth $54,289,000. Hedge funds and other 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.