Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM) shares saw strong trading volume on Tuesday . 3,894,953 shares changed hands during trading, a decline of 24% from the previous session’s volume of 5,108,802 shares.The stock last traded at $59.27 and had previously closed at $59.00.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Guggenheim reissued a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Morgan Stanley increased their price target on Tempus AI from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Bank of America lifted their price target on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. TD Cowen reaffirmed a “buy” rating and set a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Finally, William Blair reissued a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Trading Down 2.2 %

The stock’s 50-day simple moving average is $56.88 and its 200-day simple moving average is $51.40. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insiders Place Their Bets

In related news, major shareholder Bradley A. Keywell sold 265,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the sale, the insider now owns 15,218,365 shares of the company’s stock, valued at $534,164,611.50. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nadja West sold 809 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total transaction of $41,347.99. Following the transaction, the director now directly owns 37,705 shares of the company’s stock, valued at $1,927,102.55. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,598,969 shares of company stock worth $317,194,162 over the last three months.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC bought a new position in shares of Tempus AI during the third quarter valued at $1,367,000. Victory Capital Management Inc. bought a new stake in Tempus AI during the 4th quarter valued at about $216,000. China Universal Asset Management Co. Ltd. purchased a new position in Tempus AI in the fourth quarter worth about $1,091,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Tempus AI in the fourth quarter worth approximately $178,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Tempus AI during the third quarter valued at approximately $2,726,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

Tempus AI Company Profile

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.