Tempus AI (NASDAQ:TEM) Trading Up 3% – Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) shot up 3% on Thursday . The stock traded as high as $55.60 and last traded at $54.86. 3,916,729 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 5,169,968 shares. The stock had previously closed at $53.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen reaffirmed a “buy” rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and raised their price target for the company from $50.00 to $55.00 in a report on Tuesday, February 25th. Loop Capital decreased their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Piper Sandler cut their target price on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Trading Down 0.2 %

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The stock has a fifty day moving average of $57.78 and a 200 day moving average of $51.47.

Insiders Place Their Bets

In other news, EVP Andrew Polovin sold 13,135 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the sale, the executive vice president now directly owns 154,171 shares of the company’s stock, valued at $7,088,782.58. This represents a 7.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jennifer A. Doudna sold 1,320 shares of Tempus AI stock in a transaction on Friday, February 14th. The shares were sold at an average price of $90.00, for a total transaction of $118,800.00. Following the transaction, the director now owns 36,011 shares in the company, valued at approximately $3,240,990. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,598,969 shares of company stock worth $317,194,162 over the last quarter.

Institutional Investors Weigh In On Tempus AI

Several institutional investors and hedge funds have recently modified their holdings of TEM. ARK Investment Management LLC grew its stake in Tempus AI by 132.1% during the fourth 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 in the last quarter. NEA Management Company LLC boosted its holdings in shares of Tempus AI by 17.8% during the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position 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 valued at $109,352,000 after purchasing an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Tempus AI by 166.0% in 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 last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after buying an additional 1,950,862 shares in the last quarter. 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.