Tempus AI (NASDAQ:TEM) Trading Up 3.8% – Should You Buy?

Tempus AI, Inc. (NASDAQ:TEM) shares shot up 3.8% on Wednesday . The stock traded as high as $85.27 and last traded at $85.10. 7,285,295 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 13,854,130 shares. The stock had previously closed at $81.95.

Wall Street Analysts Forecast Growth

TEM has been the subject of several analyst reports. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and upped their price objective for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Bank of America boosted their price objective on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Wolfe Research started coverage on shares of Tempus AI in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target on the stock. Piper Sandler reissued a “neutral” rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Finally, Guggenheim initiated coverage on shares of Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Trading Up 5.5 %

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 company has a fifty day moving average price of $47.46 and a 200-day moving average price of $50.72.

Insider Transactions at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the sale, the executive vice president now directly owns 246,085 shares of the company’s stock, valued at $10,431,543.15. The trade was a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David R. Epstein sold 620 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total value of $25,922.20. Following the completion of the sale, the director now directly owns 27,894 shares of the company’s stock, valued at $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. Insiders have sold 2,401,779 shares of company stock valued at $115,707,361 in the last ninety days.

Hedge Funds Weigh In On Tempus AI

Several large investors have recently modified their holdings of TEM. Kovitz Investment Group Partners LLC bought a new position in Tempus AI during the third quarter valued at $1,367,000. China Universal Asset Management Co. Ltd. bought a new position in Tempus AI during the 4th quarter valued at about $1,091,000. Sumitomo Mitsui Trust Group Inc. raised its position in Tempus AI by 1,591.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after purchasing an additional 1,145,698 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Tempus AI in the fourth quarter worth about $178,000. Finally, Captrust Financial Advisors bought a new stake in Tempus AI in the third quarter worth about $2,726,000. Institutional investors own 24.22% of the company’s stock.

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.