Tempus AI (NASDAQ:TEM) Trading Up 3% – Still a Buy?

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

Wall Street Analyst Weigh In

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

Tempus AI Price Performance

The company has a 50-day moving average of $58.38 and a 200-day moving average of $51.48. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Buying and Selling

In related news, Director Jennifer A. Doudna sold 1,320 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $90.00, for a total transaction of $118,800.00. Following the transaction, the director now directly owns 36,011 shares in the company, valued at approximately $3,240,990. This represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of Tempus AI stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the sale, the chief executive officer now owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. This trade represents a 39.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Investors Weigh In On Tempus AI

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Tempus AI by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock valued at $1,686,000 after acquiring an additional 2,765 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Tempus AI in the 3rd quarter valued at about $2,726,000. NEA Management Company LLC grew 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 worth $304,846,000 after purchasing an additional 813,169 shares during the period. Benjamin Edwards Inc. acquired a new stake in Tempus AI during the 3rd quarter worth approximately $725,000. Finally, Stifel Financial Corp purchased a new position in Tempus AI in the third quarter valued at approximately $218,000. 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.