Tempus AI (NASDAQ:TEM) Trading 3.5% Higher – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was up 3.5% during trading on Friday . The company traded as high as $49.40 and last traded at $49.72. Approximately 2,849,544 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 5,025,887 shares. The stock had previously closed at $48.04.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TEM shares. Piper Sandler dropped their target price on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and increased their target price for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. Bank of America increased their target price on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Finally, TD Cowen reaffirmed a “buy” rating and issued a $74.00 target price (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Tempus AI has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Up 6.9 %

The stock’s 50 day moving average is $56.35 and its two-hundred day moving average is $51.39. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Transactions at Tempus AI

In other news, Director David R. Epstein sold 990 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $46.83, for a total value of $46,361.70. Following the completion of the sale, the director now owns 26,284 shares in the company, valued at approximately $1,230,879.72. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ryan Fukushima sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total transaction of $792,200.00. Following the completion of the sale, the chief operating officer now owns 982,442 shares of the company’s stock, valued at $38,914,527.62. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,598,969 shares of company stock worth $317,194,162.

Hedge Funds Weigh In On Tempus AI

A number of large investors have recently made changes to their positions in the stock. ARK Investment Management LLC increased its holdings in shares of Tempus AI by 132.1% in the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after purchasing an additional 3,141,487 shares in the last quarter. NEA Management Company LLC increased its holdings in shares of Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Tempus AI by 166.0% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after purchasing an additional 1,950,862 shares in the last quarter. Hedge funds and other 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.