Tempus AI (NASDAQ:TEM) Shares Gap Up - Should You Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $45.58, but opened at $48.75. Tempus AI shares last traded at $45.68, with a volume of 3,267,094 shares.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Guggenheim reaffirmed a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. TD Cowen reiterated a "buy" rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. William Blair restated a "market perform" rating on shares of Tempus AI in a report on Tuesday, February 25th. Finally, Piper Sandler decreased their price objective on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.18.

Tempus AI Trading Up 2.7 %

The company has a 50-day moving average price of $54.76 and a two-hundred day moving average price of $52.03. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Insider Buying and Selling at Tempus AI

In related news, EVP Andrew Polovin sold 1,130 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $40.23, for a total transaction of $45,459.90. Following the transaction, the executive vice president now directly owns 244,955 shares of the company's stock, valued at approximately $9,854,539.65. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bradley A. Keywell sold 265,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $35.10, for a total value of $9,301,500.00. Following the completion of the sale, the insider now directly owns 15,218,365 shares of the company's stock, valued at approximately $534,164,611.50. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,755,906 shares of company stock valued at $322,788,693 in the last three months.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sigma Planning Corp purchased a new stake in Tempus AI during the 3rd quarter valued at about $1,323,000. GSA Capital Partners LLP purchased a new stake in shares of Tempus AI during the third quarter valued at approximately $306,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company's stock worth $68,922,000 after purchasing an additional 1,145,698 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI in the third quarter worth $30,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Tempus AI by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company's stock worth $1,686,000 after buying an additional 2,765 shares during the period. 24.22% of the stock is owned by 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.

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