Tempus AI (NASDAQ:TEM) Stock Price Up 4% - Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shot up 4% during trading on Wednesday . The company traded as high as $48.29 and last traded at $47.57. 3,538,763 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 4,976,978 shares. The stock had previously closed at $45.74.

Analysts Set New Price Targets

A number of brokerages recently commented on TEM. Piper Sandler lowered their price objective on Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Bank of America boosted their target price on Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. 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. Wolfe Research lowered Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, TD Cowen restated a "buy" rating and set a $74.00 target price (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.18.

Tempus AI Trading Up 6.9 %

The company has a 50 day simple moving average of $56.35 and a 200 day simple moving average of $51.40. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

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Insider Buying and Selling at Tempus AI

In other news, Director David R. Epstein sold 990 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $46.83, for a total transaction of $46,361.70. Following the sale, the director now owns 26,284 shares in the company, 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 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 sale, the insider now owns 15,218,365 shares in the company, 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. In the last quarter, insiders have sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Investors Weigh In On Tempus AI

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after acquiring an additional 278 shares during the period. First Horizon Advisors Inc. acquired a new position in Tempus AI in the 3rd quarter valued at $30,000. Geode Capital Management LLC grew its holdings in Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company's stock valued at $7,537,000 after buying an additional 539 shares in the last quarter. Operose Advisors LLC acquired a new position in Tempus AI in the 4th quarter valued at $25,000. Finally, Prestige Wealth Management Group LLC grew its holdings in Tempus AI by 910.4% in 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. Institutional investors own 24.22% of the company's stock.

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.