Tempus AI (NASDAQ:TEM) Sees Unusually-High Trading Volume - Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) saw an uptick in trading volume on Wednesday . 1,687,457 shares traded hands during mid-day trading, an increase of 15% from the previous session's volume of 1,470,047 shares.The stock last traded at $36.96 and had previously closed at $38.95.

Analyst Upgrades and Downgrades

TEM has been the topic of a number of research reports. Bank of America increased their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. Piper Sandler reiterated 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. Stifel Nicolaus cut Tempus AI from a "buy" rating to a "hold" rating and boosted their target price for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Wolfe Research started coverage on Tempus AI in a report on Friday, December 13th. They set an "outperform" rating and a $60.00 price target on the stock. Finally, Guggenheim initiated coverage on Tempus AI in a research note on Monday, December 9th. They issued a "buy" rating and a $74.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Tempus AI presently has an average rating of "Moderate Buy" and an average target price of $56.00.

Tempus AI Price 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 company's fifty day moving average price is $52.24.

Insider Activity at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the firm's 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 trade represents a 17.31 % 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, Director David R. Epstein sold 620 shares of Tempus AI stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total value of $25,922.20. Following the sale, the director now owns 27,894 shares in the company, valued at $1,166,248.14. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 650,949 shares of company stock valued at $27,821,944 over the last three months.

Institutional Investors Weigh In On Tempus AI

Several large investors have recently modified their holdings of TEM. First Horizon Advisors Inc. acquired a new position in Tempus AI in the third quarter valued at $30,000. Sandia Investment Management LP purchased a new stake in Tempus AI during the 2nd quarter valued at approximately $136,000. Vestor Capital LLC purchased a new stake in Tempus AI during the 3rd quarter valued at approximately $153,000. Stifel Financial Corp acquired a new stake in Tempus AI during the 3rd quarter worth approximately $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Tempus AI in the 3rd quarter valued at approximately $258,000. 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.