Tempus AI (NASDAQ:TEM) Shares Gap Up - Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $51.35, but opened at $54.94. Tempus AI shares last traded at $56.83, with a volume of 2,711,940 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut Tempus AI from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Wolfe Research cut Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Morgan Stanley increased their target price on shares of Tempus AI from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Guggenheim restated a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Finally, Piper Sandler lowered their target price on Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.

Tempus AI Trading Down 8.0 %

The business's fifty day simple moving average is $58.38 and its 200-day simple moving average is $51.52. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Remove Ads

Insider Activity at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 3,240,234 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the completion of the transaction, the chief executive officer now owns 4,895,589 shares of the company's stock, valued at approximately $287,615,853.75. The trade was a 39.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ryan M. Bartolucci sold 13,770 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $60.00, for a total transaction of $826,200.00. Following the completion of the sale, the chief accounting officer now owns 57,237 shares in the company, valued at $3,434,220. This represents a 19.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,598,969 shares of company stock worth $317,194,162.

Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Operose Advisors LLC purchased a new stake in shares of Tempus AI in the 4th quarter valued at about $25,000. Farther Finance Advisors LLC purchased a new stake in Tempus AI during the fourth quarter valued at about $34,000. Prestige Wealth Management Group LLC raised its holdings in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after buying an additional 965 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Tempus AI in the 4th quarter worth approximately $49,000. Finally, First Horizon Advisors Inc. boosted its stake in Tempus AI by 207.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock worth $55,000 after buying an additional 1,108 shares in the last quarter. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

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.