Tempus AI (NASDAQ:TEM) Shares Up 14.9% – Should You Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) rose 14.9% during mid-day trading on Thursday . The company traded as high as $85.71 and last traded at $84.90. Approximately 15,252,055 shares changed hands during trading, an increase of 18% from the average daily volume of 12,909,801 shares. The stock had previously closed at $73.88.

Wall Street Analysts Forecast Growth

TEM has been the subject of a number of research analyst reports. Guggenheim initiated coverage on shares of Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. 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. Needham & Company LLC restated a “buy” rating and issued a $56.00 price target on shares of Tempus AI in a research report on Tuesday, January 14th. William Blair cut shares of Tempus AI from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, TD Cowen restated a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Stock Performance

The business’s 50 day simple moving average is $45.21 and its two-hundred day simple moving average is $49.73. 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 Activity

In related news, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares in the company, valued at approximately $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the sale, the insider now owns 16,164,449 shares of the company’s stock, valued at $694,263,084.55. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,229,449 shares of company stock worth $102,293,124 over the last quarter.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently bought and sold shares of TEM. Raymond James Financial Inc. purchased a new stake in shares of Tempus AI in the 4th quarter valued at $3,757,000. Legal & General Group Plc raised its holdings in Tempus AI by 40.6% in the 4th quarter. Legal & General Group Plc now owns 358,432 shares of the company’s stock worth $12,101,000 after purchasing an additional 103,464 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Tempus AI by 157.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 44,119 shares of the company’s stock worth $1,489,000 after purchasing an additional 26,998 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after buying an additional 278 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Tempus AI in the 4th quarter worth about $1,916,000. 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.