Tempus AI (NASDAQ:TEM) Trading 5.7% Higher – Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) traded up 5.7% on Monday . The stock traded as high as $41.36 and last traded at $40.44. 2,159,741 shares traded hands during trading, a decline of 33% from the average session volume of 3,243,271 shares. The stock had previously closed at $38.25.

Analysts Set New Price Targets

TEM has been the topic of several research analyst reports. Bank of America raised their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Loop Capital boosted their price objective on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research assumed coverage on Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 target price on the stock. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Price Performance

The company’s 50-day simple moving average is $48.59 and its 200-day simple moving average is $46.96. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Activity

In other news, CEO Eric P. Lefkofsky sold 187,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the completion of the transaction, the chief executive officer now directly owns 9,557,283 shares in the company, valued at approximately $358,780,403.82. This represents a 1.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David R. Epstein sold 620 shares of Tempus AI stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total transaction of $25,922.20. Following the completion of the sale, the director now owns 27,894 shares of the company’s stock, valued at approximately $1,166,248.14. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 865,041 shares of company stock worth $35,917,673.

Hedge Funds Weigh In On Tempus AI

Several large investors have recently modified their holdings of TEM. NEA Management Company LLC bought a new stake in Tempus AI in the second quarter valued at about $160,048,000. Novo Holdings A S acquired a new position in Tempus AI in the second quarter valued at approximately $142,605,000. Revolution Growth Management Company Inc. bought a new position in Tempus AI during the 2nd quarter worth $128,133,000. ARK Investment Management LLC increased its holdings in shares of Tempus AI by 355.0% in the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after acquiring an additional 1,855,459 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after buying an additional 1,145,698 shares during 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.