Tempus AI (NASDAQ:TEM) Trading 3% Higher – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s share price was up 3% during trading on Thursday . The company traded as high as $55.60 and last traded at $54.86. Approximately 3,916,729 shares changed hands during trading, a decline of 24% from the average daily volume of 5,169,968 shares. The stock had previously closed at $53.25.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEM. TD Cowen reiterated a “buy” rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Wolfe Research downgraded shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Needham & Company LLC upped their price objective on Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, Piper Sandler decreased their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tempus AI presently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Price Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The stock has a fifty day moving average of $58.38 and a 200-day moving average of $51.48.

Insider Transactions at Tempus AI

In related news, CAO Ryan M. Bartolucci sold 818 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $81.87, for a total value of $66,969.66. Following the completion of the sale, the chief accounting officer now owns 46,182 shares in the company, valued at $3,780,920.34. This represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nadja West sold 809 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total transaction of $41,347.99. Following the sale, the director now owns 37,705 shares of the company’s stock, valued at approximately $1,927,102.55. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,598,969 shares of company stock worth $317,194,162.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Operose Advisors LLC purchased a new position in shares of Tempus AI during the fourth quarter worth about $25,000. Farther Finance Advisors LLC purchased a new position in shares of Tempus AI in the 4th quarter valued at approximately $34,000. Prestige Wealth Management Group LLC increased its holdings in shares of Tempus AI by 910.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Tempus AI during the fourth quarter worth $49,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Tempus AI by 207.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,641 shares of the company’s stock worth $55,000 after purchasing an additional 1,108 shares during the period. 24.22% of the stock is currently 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.