Tempus AI (NASDAQ:TEM) Trading 2% Higher – Should You Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was up 2% on Tuesday . The stock traded as high as $78.67 and last traded at $69.74. Approximately 17,873,241 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 12,048,808 shares. The stock had previously closed at $68.36.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEM. Loop Capital decreased their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. TD Cowen reiterated a “buy” rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Piper Sandler restated a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Stifel Nicolaus downgraded 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 report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and a consensus price target of $58.55.

Tempus AI Price 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 company’s 50-day moving average is $44.60 and its two-hundred day moving average is $49.36.

Insider Transactions at Tempus AI

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of Tempus AI stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the sale, the insider now directly owns 16,164,449 shares in the company, valued at $694,263,084.55. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew Polovin sold 51,504 shares of the firm’s stock in a transaction on 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 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 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 in the last quarter.

Hedge Funds Weigh In On Tempus AI

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new position in Tempus AI during the second quarter valued at approximately $946,000. Carnegie Investment Counsel purchased a new stake in shares of Tempus AI in the 3rd quarter worth approximately $7,936,000. Exchange Traded Concepts LLC purchased a new position in Tempus AI during the third quarter valued at $3,458,000. Renaissance Capital LLC bought a new stake in Tempus AI in the third quarter worth $633,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Tempus AI in the 3rd quarter worth about $258,000. 24.22% of the stock is owned by hedge funds and other institutional investors.

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.