Tempus AI (NASDAQ:TEM) Stock Price Up 8.5% – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price traded up 8.5% on Wednesday . The stock traded as high as $69.95 and last traded at $67.11. 11,987,491 shares were traded during mid-day trading, an increase of 11% from the average session volume of 10,835,146 shares. The stock had previously closed at $61.85.

Analysts Set New Price Targets

A number of analysts have weighed in on TEM shares. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 target price on shares of Tempus AI in a research note on Tuesday, January 14th. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and upped their target price for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Bank of America lifted their price target on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. TD Cowen reiterated a “buy” rating and issued a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a report on Wednesday. Finally, Wolfe Research started coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Stock Performance

The firm’s 50-day simple moving average is $44.36 and its 200 day simple moving average is $48.84. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Buying and Selling at Tempus AI

In other news, major shareholder Bradley A. Keywell sold 265,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $35.10, for a total value of $9,301,500.00. Following the completion of the transaction, the insider now directly owns 15,218,365 shares in the company, valued at approximately $534,164,611.50. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric P. Lefkofsky sold 476,209 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $49.84, for a total transaction of $23,734,256.56. Following the sale, the chief executive officer now directly owns 6,502,643 shares in the company, valued at $324,091,727.12. This trade represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,058,072 shares of company stock valued at $90,719,375 over the last three months.

Institutional Trading of Tempus AI

Institutional investors and hedge funds have recently modified their holdings of the business. ARK Investment Management LLC increased its stake in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after acquiring an additional 3,141,487 shares during the last quarter. NEA Management Company LLC increased its position in shares of Tempus AI by 17.8% during 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tempus AI by 166.0% during 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 buying an additional 2,021,394 shares in the last quarter. Franklin Resources Inc. lifted its position in Tempus AI by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock worth $45,920,000 after buying an additional 8,387 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Tempus AI in the second quarter worth approximately $8,067,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.