Tempus AI (NASDAQ:TEM) Sees Unusually-High Trading Volume – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM) shares saw unusually-strong trading volume on Wednesday . Approximately 8,775,620 shares were traded during trading, an increase of 38% from the previous session’s volume of 6,363,979 shares.The stock last traded at $49.70 and had previously closed at $47.64.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEM shares. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Stifel Nicolaus cut shares of 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 report on Monday, November 11th. Bank of America lifted their target price on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Wolfe Research assumed coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. Finally, Guggenheim started coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.36.

Tempus AI Price Performance

The business has a 50 day simple moving average of $44.77 and a 200-day simple moving average of $47.39. 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

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the business’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 sale, the insider now directly owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. The trade was a 2.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David R. Epstein sold 620 shares of the business’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 in the company, valued at approximately $1,166,248.14. The trade was a 2.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,300,761 shares of company stock worth $51,271,197.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently added to or reduced their stakes in TEM. Exchange Traded Concepts LLC boosted its stake in shares of Tempus AI by 37.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 84,174 shares of the company’s stock valued at $2,842,000 after buying an additional 23,070 shares during the period. SG Americas Securities LLC purchased a new position in Tempus AI in the fourth quarter worth approximately $372,000. Dakota Wealth Management grew its holdings in Tempus AI by 189.7% during the 4th quarter. Dakota Wealth Management now owns 60,668 shares of the company’s stock worth $2,048,000 after acquiring an additional 39,724 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Tempus AI in the 4th quarter valued at approximately $1,197,000. Finally, Bouvel Investment Partners LLC acquired a new stake in shares of Tempus AI in the 4th quarter valued at $1,029,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

Tempus AI Company Profile

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.