Tempus AI (NASDAQ:TEM) Shares Up 13.1% – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM) was up 13.1% on Monday . The stock traded as high as $57.69 and last traded at $58.10. Approximately 6,508,913 shares traded hands during trading, a decline of 52% from the average daily volume of 13,653,986 shares. The stock had previously closed at $51.35.

Analyst Ratings Changes

A number of brokerages recently weighed in on TEM. Bank of America boosted their price objective on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Loop Capital dropped 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. JPMorgan Chase & Co. lowered shares of Tempus AI from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Finally, William Blair restated a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.18.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The stock’s 50 day moving average price is $56.35 and its 200 day moving average price is $51.38.

Insider Activity at Tempus AI

In other Tempus AI news, Director Jennifer A. Doudna sold 1,320 shares of Tempus AI stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $90.00, for a total value of $118,800.00. Following the completion of the sale, the director now directly owns 36,011 shares in the company, valued at approximately $3,240,990. The trade was a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total value of $792,200.00. Following the transaction, the chief operating officer now owns 982,442 shares in the company, valued at $38,914,527.62. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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

A number of large investors have recently bought and sold shares of the stock. ARK Investment Management LLC boosted 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 purchasing an additional 3,141,487 shares in the last quarter. NEA Management Company LLC increased its position in Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after buying an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Tempus AI by 166.0% during 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 period. Nikko Asset Management Americas Inc. boosted its holdings in 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 acquiring an additional 2,021,394 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after acquiring an additional 1,950,862 shares during the period. 24.22% of the stock is currently 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.