Investing.com-- Shares of Tempus AI Inc (NASDAQ:TEM) are set to rally on Tuesday after former House Speaker Nancy Pelosi disclosed that she had purchased call options on the stock.
Tempus’ shares jumped over 18% to $41.62 in 24 hour markets, data from Robinhood (NASDAQ:HOOD) showed.
Pelosi disclosed in a filing that she had purchased 50 call options in the AI firm with a strike price of $20 and an expiration date of Jan 16, 2026, for between $50,000 to $100,000 earlier this month.
Pelosi had also disclosed call options in Alphabet Inc (NASDAQ:GOOGL), NVIDIA Corporation (NASDAQ:NVDA), and Amazon.com Inc (NASDAQ:AMZN).
Tempus- which uses artificial intelligence technology in precision medicine applications, publicly listed in June 2024, and is trading down about 12% since listing.
Recent filings showed a major shareholder in the firm had sold about $33.1 million worth of shares last week, after the company clocked strong 2024 earnings but flagged some weakness in its contract research organization revenues.
Trading social media platform Stocktwits showed sentiment on Tempus was extremely bullish, and that discussion over the stock had also increased sharply after Pelosi’s disclosure.