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

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) gapped up prior to trading 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 traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TEM. Wolfe Research cut shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Needham & Company LLC lifted their target price on Tempus AI from $56.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Morgan Stanley boosted their target price on Tempus AI from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Finally, William Blair reiterated a "market perform" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Tempus AI has a consensus rating of "Moderate Buy" and a consensus target price of $61.18.

Tempus AI Stock Down 7.5 %

The business's 50-day moving average price is $57.42 and its 200-day moving average price is $51.46. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Insiders Place Their Bets

In other Tempus AI news, Director David R. Epstein sold 990 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $46.83, for a total value of $46,361.70. Following the transaction, the director now directly owns 26,284 shares of the company's stock, valued at $1,230,879.72. This represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James William Rogers sold 23,030 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $45.97, for a total value of $1,058,689.10. Following the sale, the chief financial officer now directly owns 164,750 shares of the company's stock, valued at $7,573,557.50. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,598,969 shares of company stock worth $317,194,162 in the last quarter.

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Institutional Trading of Tempus AI

Several large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI in the 3rd quarter valued at $30,000. The Manufacturers Life Insurance Company raised its holdings in Tempus AI by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company's stock valued at $1,686,000 after buying an additional 2,765 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Tempus AI in the third quarter worth about $2,726,000. NEA Management Company LLC boosted its stake in shares of Tempus AI by 17.8% during the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company's stock worth $304,846,000 after acquiring an additional 813,169 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new position in shares of Tempus AI during the 3rd quarter valued at about $725,000. 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.