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Tempus AI (TEM) Stock Is Rising Wednesday: What's Going On?

Shares of Tempus AI Inc (NASDAQ:TEM) are trading higher Wednesday, potentially building on momentum from last week given the lack of company-specific news. Here’s what investors need to know.

What To Know: Investor enthusiasm continues to be fueled by the Sept. 22 announcement that the company received FDA 510(k) clearance for its xR IVD device.

This clearance marks a regulatory milestone for Tempus. The xR IVD is a next-generation sequencing, RNA-based diagnostic tool designed to analyze tumor tissue. Its primary function is to identify patients with solid malignant tumors who are most likely to respond to specific therapeutic treatments, thereby streamlining clinical trials for biopharmaceutical collaborators.

The FDA’s approval helps solidify Tempus AI’s position in the precision medicine landscape, potentially opening new commercial avenues for its oncology-focused diagnostic and data services.

Tempus on Wednesday announced an enhancement to its Ambry CARE Program. The update provides clinicians with more precise and personalized risk estimates at the point of care that can guide recommendations for breast cancer screening and risk reduction.

Benzinga Edge Rankings: The stock’s recent positive movement is reflected in its Benzinga Edge Momentum score, which currently stands at a strong 88.12.

TEM Price Action: Tempus AI shares were up 5.22% at $84.92 at the time of publication Wednesday, according to Benzinga Pro.

The stock is currently trading near its 52-week high of $97.78, indicating bullish sentiment, while the recent price action suggests potential resistance around the intraday high.

Read Also: Reddit Stock Is Sliding Wednesday: What’s Driving The Action?

How To Buy TEM Stock

By now you're likely curious about how to participate in the market for Tempus AI – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

Image: Shutterstock

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