Tempus AI (NASDAQ:TEM) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) saw an uptick in trading volume on Wednesday . 1,687,457 shares changed hands during mid-day 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.

Analysts Set New Price Targets

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

Tempus AI Stock Down 4.0 %

The business has a 50 day moving average price of $52.43. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insider Buying and Selling

In related 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 transaction of $16,999,610.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $2,183,254.56. Following the completion of the sale, the executive vice president now owns 246,085 shares of the company’s stock, valued at approximately $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 650,949 shares of company stock valued at $27,821,944 over the last three months.

Institutional Investors Weigh In On Tempus AI

Several hedge funds have recently added to or reduced their stakes in TEM. Kovitz Investment Group Partners LLC acquired a new position in shares of Tempus AI in the 3rd quarter valued at about $1,367,000. Sumitomo Mitsui Trust Group Inc. raised its position in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Captrust Financial Advisors acquired a new position in Tempus AI in the third quarter valued at approximately $2,726,000. Sigma Planning Corp purchased a new stake in Tempus AI in the 3rd quarter worth approximately $1,323,000. Finally, Dakota Wealth Management acquired a new stake in shares of Tempus AI during the 3rd quarter worth approximately $1,185,000. 24.22% of the stock is 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.