Tempus AI, Inc. (NASDAQ:TEM) Short Interest Up 20.2% in December

Tempus AI, Inc. (NASDAQ:TEM) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 6,140,000 shares, an increase of 20.2% from the November 30th total of 5,110,000 shares. Currently, 10.5% of the shares of the stock are sold short. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is currently 3.1 days.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 187,655 shares of Tempus AI stock in a transaction 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 transaction, the chief executive officer now owns 9,557,283 shares in the company, valued at $358,780,403.82. This trade represents a 1.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David R. Epstein sold 620 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total transaction of $25,922.20. Following the sale, the director now owns 27,894 shares of the company’s stock, valued at approximately $1,166,248.14. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 845,041 shares of company stock valued at $35,125,473.

Institutional Investors Weigh In On Tempus AI

Several hedge funds have recently added to or reduced their stakes in TEM. First Horizon Advisors Inc. bought a new position in shares of Tempus AI during the third quarter valued at $30,000. Geode Capital Management LLC increased its stake in Tempus AI by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after purchasing an additional 539 shares in the last quarter. Vestor Capital LLC purchased a new position in Tempus AI in the third quarter worth about $153,000. The Manufacturers Life Insurance Company grew its holdings in shares of Tempus AI by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock valued at $1,686,000 after buying an additional 2,765 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Tempus AI during the third quarter valued at approximately $218,000. 24.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective on the stock. Loop Capital lifted their price target on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Piper Sandler restated a “neutral” rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Guggenheim began coverage on shares of Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price target on the stock. Finally, Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and raised their price objective for the stock 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.00.

Tempus AI Stock Down 3.6 %

Shares of TEM opened at $33.87 on Tuesday. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The business’s 50 day moving average price is $49.76 and its 200-day moving average price is $46.89. Tempus AI has a 52 week low of $22.89 and a 52 week high of $79.49.

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.