Tempus AI, Inc. (NASDAQ:TEM) Sees Significant Increase in Short Interest

Tempus AI, Inc. (NASDAQ:TEM) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 17,210,000 shares, a growth of 21.4% from the February 28th total of 14,180,000 shares. Based on an average trading volume of 12,430,000 shares, the short-interest ratio is presently 1.4 days. Currently, 22.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Morgan Stanley raised their target price on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Finally, Piper Sandler decreased their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Stock Up 3.3 %

Shares of NASDAQ TEM traded up $1.54 during mid-day trading on Wednesday, reaching $48.76. 3,218,519 shares of the company were exchanged, compared to its average volume of 5,257,166. Tempus AI has a 1 year low of $22.89 and a 1 year high of $91.45. The firm has a 50-day moving average of $58.64 and a 200 day moving average of $51.56. 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, EVP Erik Phelps sold 5,934 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $67.57, for a total transaction of $400,960.38. Following the completion of the transaction, the executive vice president now owns 214,662 shares in the company, valued at $14,504,711.34. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bradley A. Keywell sold 170,720 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $35.45, for a total value of $6,052,024.00. Following the completion of the sale, the insider now owns 15,993,729 shares in the company, valued at approximately $566,977,693.05. The trade was a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,598,969 shares of company stock worth $317,194,162 over the last quarter.

Institutional Trading of Tempus AI

Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after acquiring an additional 278 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tempus AI by 0.4% during the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after purchasing an additional 539 shares in the last quarter. Operose Advisors LLC purchased a new stake in shares of Tempus AI during the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in Tempus AI during the 4th quarter worth $34,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.