Tempus AI (NASDAQ:TEM) Stock Price Up 6.3% – Should You Buy?

Tempus AI, Inc. (NASDAQ:TEM) shares shot up 6.3% on Thursday . The stock traded as high as $58.51 and last traded at $53.97. 8,464,662 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 9,355,592 shares. The stock had previously closed at $50.77.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEM. Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $56.00 price objective on shares of Tempus AI in a research report on Tuesday, January 14th. Piper Sandler reiterated 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 initiated coverage on shares of Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. Finally, Wolfe Research began coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Tempus AI has a consensus rating of “Moderate Buy” and a consensus target price of $56.36.

Tempus AI Stock 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’s 50 day simple moving average is $44.18 and its two-hundred day simple moving average is $48.18.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 82,056 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $58.21, for a total transaction of $4,776,479.76. Following the transaction, the chief executive officer now directly owns 5,532,987 shares in the company, valued at approximately $322,075,173.27. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David R. Epstein sold 620 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $41.81, for a total transaction of $25,922.20. Following the transaction, the director now owns 27,894 shares in the company, valued at approximately $1,166,248.14. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,037,702 shares of company stock valued at $89,449,651 over the last 90 days.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors have recently added to or reduced their stakes in TEM. First Horizon Advisors Inc. acquired a new position in Tempus AI during the third quarter worth $30,000. FNY Investment Advisers LLC acquired a new position in Tempus AI during the fourth quarter worth $67,000. Vestor Capital LLC acquired a new position in Tempus AI during the third quarter worth $153,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Tempus AI during the fourth quarter worth $178,000. Finally, Stifel Financial Corp acquired a new position in Tempus AI during the third quarter worth $218,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Tempus AI Company Profile

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.