Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM) shares saw strong trading volume on Wednesday . 8,775,620 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 6,363,979 shares.The stock last traded at $49.70 and had previously closed at $47.64.

Wall Street Analyst Weigh In

Several brokerages have commented on TEM. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and upped their target price for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Loop Capital lowered their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wolfe Research assumed 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 on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Finally, Bank of America raised their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Tempus AI has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

Tempus AI Stock Performance

The business’s 50 day simple moving average is $44.38 and its 200-day simple moving average is $47.46. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Insiders Place Their Bets

In other Tempus AI news, major shareholder Bradley A. Keywell sold 265,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $35.10, for a total transaction of $9,301,500.00. Following the sale, the insider now owns 15,218,365 shares of the company’s stock, valued at approximately $534,164,611.50. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric P. Lefkofsky sold 187,655 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total value of $7,044,568.70. Following the completion of the transaction, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at approximately $358,780,403.82. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,300,761 shares of company stock worth $51,271,197 over the last three months.

Institutional Investors Weigh In On Tempus AI

Several institutional investors and hedge funds have recently made changes to their positions in TEM. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI in the 3rd quarter valued at $30,000. FNY Investment Advisers LLC purchased a new stake in shares of Tempus AI during the fourth quarter valued at approximately $67,000. Vestor Capital LLC purchased a new stake in shares of Tempus AI during the 3rd quarter valued at $153,000. Stifel Financial Corp bought a new stake in shares of Tempus AI during the 3rd quarter worth $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Tempus AI in the 3rd quarter worth approximately $258,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

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.