Tempus AI (NASDAQ:TEM) Shares Up 14.9% – Should You Buy?

Tempus AI, Inc. (NASDAQ:TEM) was up 14.9% during trading on Thursday . The stock traded as high as $85.71 and last traded at $84.90. Approximately 15,252,055 shares were traded during trading, an increase of 18% from the average daily volume of 12,909,801 shares. The stock had previously closed at $73.88.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TEM shares. TD Cowen reaffirmed a “buy” rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Piper Sandler reissued a “neutral” rating and issued a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Wolfe Research started coverage on Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price objective for the company. Bank of America raised 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, Needham & Company LLC reissued a “buy” rating and issued a $56.00 price objective on shares of Tempus AI in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.55.

Tempus AI Stock Performance

The company has a 50 day simple moving average of $46.60 and a 200-day simple moving average of $50.29. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Buying and Selling at Tempus AI

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total value of $16,999,610.00. Following the sale, the insider now directly owns 16,164,449 shares in the company, valued at $694,263,084.55. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Polovin sold 51,504 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $42.39, for a total value of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares in the company, valued at approximately $10,431,543.15. The trade was a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,401,779 shares of company stock worth $115,707,361 over the last ninety days.

Hedge Funds Weigh In On Tempus AI

Several hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC grew its position in shares of 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 purchasing an additional 3,141,487 shares in the last quarter. NEA Management Company LLC grew its position in shares of Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Tempus AI by 166.0% in the fourth 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 in the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of Tempus AI by 166.0% in the fourth 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 in the last quarter. Finally, Franklin Resources Inc. grew its position in Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after buying an additional 1,950,862 shares in the last quarter. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

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.