Tempus AI (NASDAQ:TEM) Trading 1.6% Higher – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price shot up 1.6% during mid-day trading on Wednesday . The company traded as high as $40.80 and last traded at $39.51. 1,242,095 shares were traded during trading, a decline of 64% from the average session volume of 3,425,035 shares. The stock had previously closed at $38.88.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEM. Wolfe Research initiated coverage on Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective on the stock. Bank of America upped their price target on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Guggenheim began coverage on Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. Loop Capital boosted their target price on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and increased their price target for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Tempus AI Stock Performance

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The firm’s fifty day moving average is $48.45 and its 200 day moving average is $46.89.

Insider Activity

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of Tempus AI stock in a transaction 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 transaction, the executive vice president now directly owns 246,085 shares of the company’s stock, valued at approximately $10,431,543.15. The trade was a 17.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bradley A. Keywell sold 395,800 shares of the stock in a transaction 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 owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. This represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 865,041 shares of company stock worth $35,917,673.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TEM. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI during the third quarter worth about $30,000. Vestor Capital LLC purchased a new position in Tempus AI during the 3rd quarter worth approximately $153,000. Stifel Financial Corp acquired a new stake in Tempus AI during the 3rd quarter valued at approximately $218,000. Sandia Investment Management LP purchased a new stake in shares of Tempus AI in the 2nd quarter valued at $136,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Tempus AI in the third quarter worth $258,000. 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.