Tempus AI (NASDAQ:TEM) Trading 13.1% Higher – Still a Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) rose 13.1% during trading on Monday . The company traded as high as $57.69 and last traded at $58.10. Approximately 6,508,913 shares changed hands during trading, a decline of 52% from the average daily volume of 13,653,986 shares. The stock had previously closed at $51.35.

Analyst Ratings Changes

Several equities analysts have commented on TEM shares. Bank of America upped their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. TD Cowen reissued a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Needham & Company LLC upped their target price on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, William Blair reiterated a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

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 simple moving average of $56.35 and a 200 day simple moving average of $51.38.

Insider Transactions at Tempus AI

In related news, Director David R. Epstein sold 990 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were 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 approximately $1,230,879.72. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total transaction of $603,947.30. Following the completion of the transaction, the executive vice president now directly owns 154,171 shares in the company, valued at $7,088,782.58. This trade represents a 7.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,598,969 shares of company stock valued at $317,194,162.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors have recently modified their holdings of TEM. ARK Investment Management LLC grew its position in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after acquiring an additional 3,141,487 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Tempus AI by 166.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Tempus AI by 166.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after purchasing an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. increased its position in Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after purchasing an additional 1,950,862 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Tempus AI by 86,947.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock valued at $55,836,000 after purchasing an additional 1,651,996 shares during the last quarter. Institutional investors and hedge funds 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.