Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume – Should You Buy?

Tempus AI, Inc. (NASDAQ:TEM) saw unusually-strong trading volume on Wednesday . Approximately 1,687,457 shares changed hands during trading, an increase of 15% from the previous session’s volume of 1,470,047 shares.The stock last traded at $36.96 and had previously closed at $38.95.

Analyst Ratings Changes

TEM has been the subject of several research analyst reports. Piper Sandler restated a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Guggenheim began coverage on Tempus AI in a report on Monday, December 9th. They set a “buy” rating and a $74.00 target price for the company. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and lifted their price target for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Bank of America increased their price objective on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Wolfe Research assumed coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Tempus AI currently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The stock has a 50 day moving average price of $51.96.

Insider Activity

In other news, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the transaction, the insider now directly owns 16,164,449 shares in the company, valued at $694,263,084.55. This trade represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Ryan Fukushima sold 120,000 shares of Tempus AI stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.51, for a total value of $5,101,200.00. Following the completion of the sale, the chief operating officer now directly owns 1,007,207 shares of the company’s stock, valued at $42,816,369.57. The trade was a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 657,386 shares of company stock valued at $28,080,905.

Hedge Funds Weigh In On Tempus AI

Several institutional investors have recently bought and sold shares of the company. NEA Management Company LLC purchased a new stake in shares of Tempus AI during the second quarter worth $160,048,000. Novo Holdings A S acquired a new position in Tempus AI during the 2nd quarter worth $142,605,000. Revolution Growth Management Company Inc. purchased a new stake in Tempus AI during the 2nd quarter worth about $128,133,000. ARK Investment Management LLC raised its position in Tempus AI by 355.0% in the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after purchasing an additional 1,855,459 shares in the last quarter. Finally, Alphabet Inc. purchased a new position in shares of Tempus AI in the 2nd quarter valued at about $54,289,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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.