Tempus AI (NASDAQ:TEM) Stock Price Up 8.5% – Should You Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price rose 8.5% during trading on Wednesday . The company traded as high as $69.95 and last traded at $67.11. Approximately 11,987,491 shares traded hands during mid-day trading, an increase of 11% from the average daily volume of 10,835,146 shares. The stock had previously closed at $61.85.

Analyst Upgrades and Downgrades

A number of research firms have commented on TEM. TD Cowen reaffirmed a “buy” rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and increased their target price for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Wolfe Research began coverage on shares of Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.55.

Tempus AI Stock Performance

The company’s fifty day simple moving average is $44.20 and its 200-day simple moving average is $48.58. 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 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 dated Wednesday, December 11th. The stock was 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 $694,263,084.55. This trade represents a 2.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the transaction, the executive vice president now owns 246,085 shares of the company’s stock, valued at approximately $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,037,702 shares of company stock worth $89,449,651.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. ARK Investment Management LLC grew its position in shares of Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after buying an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after buying an additional 2,021,394 shares during the last quarter. NEA Management Company LLC increased its position 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. Millennium Management LLC purchased a new stake in Tempus AI during the 2nd quarter valued at $8,067,000. Finally, Carnegie Investment Counsel bought a new stake in Tempus AI in the third quarter worth $7,936,000. 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.