Tempus AI (NASDAQ:TEM) Trading Up 1.2% - Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) was up 1.2% on Tuesday . The stock traded as high as $48.64 and last traded at $48.83. Approximately 2,780,795 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 5,242,936 shares. The stock had previously closed at $48.24.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TEM shares. Needham & Company LLC upped their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Piper Sandler cut their price target on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Wolfe Research cut shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. TD Cowen reissued a "buy" rating and set a $74.00 price objective (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Finally, William Blair restated a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.

Tempus AI Price Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The business has a 50 day simple moving average of $58.62 and a 200-day simple moving average of $51.55.

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Insider Buying and Selling

In related news, CEO Eric P. Lefkofsky sold 3,240,234 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the transaction, the chief executive officer now directly owns 4,895,589 shares in the company, valued at approximately $287,615,853.75. This represents a 39.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Ryan Fukushima sold 20,000 shares of Tempus AI stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $39.61, for a total value of $792,200.00. Following the completion of the sale, the chief operating officer now owns 982,442 shares in the company, valued at $38,914,527.62. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,601,969 shares of company stock worth $317,330,782.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds have recently made changes to their positions in TEM. Operose Advisors LLC acquired a new position in Tempus AI during the fourth quarter worth $25,000. Farther Finance Advisors LLC purchased a new stake in shares of Tempus AI in the 4th quarter valued at $34,000. Prestige Wealth Management Group LLC lifted its stake in Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after acquiring an additional 965 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Tempus AI during the 4th quarter valued at about $49,000. Finally, First Horizon Advisors Inc. grew its position in Tempus AI by 207.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company's stock valued at $55,000 after acquiring an additional 1,108 shares in the last quarter. Hedge funds and other institutional investors own 24.22% of the company's stock.

Tempus AI Company Profile

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.