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

Tempus AI, Inc. (NASDAQ:TEM) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 3,470,000 shares, a growth of 19.2% from the October 15th total of 2,910,000 shares. Approximately 6.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is presently 3.0 days.

Tempus AI Trading Down 7.5 %

Tempus AI stock traded down $4.23 during mid-day trading on Friday, hitting $52.40. 1,600,845 shares of the company traded hands, compared to its average volume of 1,324,913. The business’s fifty day moving average price is $51.25. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. Tempus AI has a one year low of $22.89 and a one year high of $79.49.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TEM. First Horizon Advisors Inc. bought a new position in Tempus AI in the third quarter worth about $30,000. Vestor Capital LLC purchased a new position in shares of Tempus AI during the 3rd quarter worth approximately $153,000. Stifel Financial Corp bought a new position in shares of Tempus AI in the 3rd quarter worth approximately $218,000. Sandia Investment Management LP bought a new stake in shares of Tempus AI during the second quarter valued at approximately $136,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Tempus AI in the third quarter worth $258,000.

Wall Street Analyst Weigh In

TEM has been the subject of a number of research reports. Loop Capital raised their price objective 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. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and raised their target price for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 price target on shares of Tempus AI in a research note on Wednesday, August 7th. Bank of America cut Tempus AI from a “buy” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their target price on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Tempus AI has a consensus rating of “Moderate Buy” and a consensus target price of $54.22.

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.