Tempus AI (NASDAQ:TEM) Shares Up 2.6% – Should You Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) rose 2.6% during trading on Monday . The stock traded as high as $74.20 and last traded at $69.88. Approximately 8,787,502 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 14,214,773 shares. The stock had previously closed at $68.09.

Analysts Set New Price Targets

A number of brokerages have recently commented on TEM. William Blair cut shares of Tempus AI from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Loop Capital lowered their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. TD Cowen reiterated a “buy” rating and issued a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research report on Tuesday, January 14th. Finally, Guggenheim began coverage on Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Trading Up 4.2 %

The company has a 50-day moving average price of $50.29 and a 200-day moving average price of $51.82. 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 Transactions at Tempus AI

In related news, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value 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 approximately $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James William Rogers sold 31,780 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $82.33, for a total transaction of $2,616,447.40. Following the transaction, the chief financial officer now directly owns 189,320 shares in the company, valued at approximately $15,586,715.60. This represents a 14.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,583,467 shares of company stock worth $130,542,311 over the last ninety days.

Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after buying an additional 278 shares during the period. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI during the third quarter worth $30,000. Geode Capital Management LLC lifted its holdings in Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after acquiring an additional 539 shares during the last quarter. Operose Advisors LLC acquired a new position in Tempus AI during the 4th quarter valued at approximately $25,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after acquiring an additional 965 shares during the period. 24.22% of the stock is owned by institutional investors and hedge funds.

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.