Tempus AI (NASDAQ:TEM) Shares Gap Up – Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) gapped up before the market opened on Monday . The stock had previously closed at $51.35, but opened at $54.94. Tempus AI shares last traded at $56.83, with a volume of 2,711,940 shares.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TEM. Morgan Stanley increased their target price on Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Guggenheim reiterated a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Piper Sandler lowered their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. William Blair reiterated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Finally, Loop Capital lowered their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Tempus AI presently has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Price Performance

The company’s 50 day moving average is $56.35 and its 200-day moving average is $51.38. 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 at Tempus AI

In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $39.61, for a total value of $792,200.00. Following the transaction, the chief operating officer now directly owns 982,442 shares of the company’s stock, valued at $38,914,527.62. This represents a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bradley A. Keywell sold 170,720 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $35.45, for a total transaction of $6,052,024.00. Following the completion of the transaction, the insider now directly owns 15,993,729 shares in the company, valued at approximately $566,977,693.05. This represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. ARK Investment Management LLC raised its holdings in Tempus AI by 132.1% in the 4th 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 period. NEA Management Company LLC increased its holdings in shares of Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after purchasing an additional 813,169 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after purchasing an additional 1,950,862 shares during the period. 24.22% of the stock is owned by 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.