Tempus AI (NASDAQ:TEM) Stock Price Up 11.7% – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s share price traded up 11.7% during mid-day trading on Wednesday . The company traded as high as $35.66 and last traded at $35.54. 1,205,110 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 3,677,894 shares. The stock had previously closed at $31.83.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Loop Capital cut their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday. Wolfe Research assumed coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $56.00 target price on shares of Tempus AI in a research note on Tuesday. Guggenheim assumed coverage on Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective on the stock. Finally, Piper Sandler reissued a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.36.

Tempus AI Price Performance

The firm’s fifty day simple moving average is $47.68 and its 200-day simple moving average is $47.26. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insider Buying and Selling at Tempus AI

In related news, EVP Andrew Polovin sold 51,504 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total value of $2,183,254.56. Following the sale, the executive vice president now directly owns 246,085 shares in the company, valued at approximately $10,431,543.15. The trade was a 17.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total value of $16,999,610.00. Following the transaction, the insider now owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 865,041 shares of company stock valued at $35,917,673.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. NEA Management Company LLC purchased a new stake in shares of Tempus AI in the second quarter valued at approximately $160,048,000. Novo Holdings A S purchased a new position in Tempus AI during the 2nd quarter valued at about $142,605,000. ARK Investment Management LLC lifted its position in shares of Tempus AI by 355.0% during the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after buying an additional 1,855,459 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Finally, Lingotto Investment Management LLP acquired a new stake in shares of Tempus AI in the 2nd quarter worth $32,685,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.