Tempus AI (NASDAQ:TEM) Shares Up 7.4% - Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s share price rose 7.4% on Friday . The company traded as high as $35.53 and last traded at $35.48. Approximately 2,141,394 shares traded hands during trading, an increase of 38% from the average daily volume of 1,553,387 shares. The stock had previously closed at $33.03.

Analysts Set New Price Targets

TEM has been the topic of several recent research reports. Stifel Nicolaus cut shares of Tempus AI from a "buy" rating to a "hold" rating and increased their price objective for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Piper Sandler reiterated a "neutral" rating and issued a $70.00 price target (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Bank of America boosted their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Loop Capital raised their target price on Tempus AI from $48.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, Guggenheim initiated coverage on Tempus AI in a report on Monday, December 9th. They set a "buy" rating and a $74.00 price target for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Tempus AI Trading Up 7.6 %

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The stock's fifty day simple moving average is $51.70.

Insider Activity at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total transaction of $2,183,254.56. Following the transaction, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. This represents a 17.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ryan Fukushima sold 120,000 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $42.51, for a total transaction of $5,101,200.00. Following the completion of the sale, the chief operating officer now owns 1,007,207 shares of the company's stock, valued at approximately $42,816,369.57. This represents a 10.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 657,386 shares of company stock worth $28,080,905.

Hedge Funds Weigh In On Tempus AI

A number of large investors have recently added to or reduced their stakes in TEM. EFG Asset Management North America Corp. acquired a new position in shares of Tempus AI during the second quarter worth $1,333,000. ARK Investment Management LLC acquired a new position in Tempus AI during the 2nd quarter valued at about $18,294,000. Northwestern University purchased a new stake in Tempus AI in the second quarter valued at about $491,000. Alphabet Inc. acquired a new stake in Tempus AI in the second quarter worth about $54,289,000. Finally, Pier Capital LLC purchased a new stake in shares of Tempus AI during the second quarter worth about $2,301,000. 24.22% of the stock is currently owned by institutional investors.

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.