Tempus AI (NASDAQ:TEM) Shares Gap Up – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM) shares gapped up before the market opened on Wednesday . The stock had previously closed at $45.58, but opened at $48.75. Tempus AI shares last traded at $45.68, with a volume of 3,267,094 shares changing hands.

Analysts Set New Price Targets

TEM has been the topic of a number of recent analyst reports. Loop Capital cut their price objective 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. TD Cowen reiterated a “buy” rating and issued a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Piper Sandler reduced their price objective on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Bank of America raised their target price on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, William Blair reissued a “market perform” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Trading Up 2.7 %

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The business has a 50-day moving average price of $54.76 and a 200 day moving average price of $52.03.

Insider Transactions at Tempus AI

In related news, Director Nadja West sold 809 shares of Tempus AI stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the completion of the sale, the director now owns 37,705 shares of the company’s stock, valued at $1,927,102.55. The trade was a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric P. Lefkofsky sold 562,345 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $50.93, for a total value of $28,640,230.85. Following the completion of the transaction, the chief executive officer now directly owns 9,457,283 shares in the company, valued at approximately $481,659,423.19. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,755,906 shares of company stock valued at $322,788,693.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently made changes to their positions in TEM. Sigma Planning Corp purchased a new position in shares of Tempus AI in the third quarter worth approximately $1,323,000. GSA Capital Partners LLP bought a new position in Tempus AI in the third quarter worth approximately $306,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Tempus AI by 1,591.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after acquiring an additional 1,145,698 shares during the last quarter. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI during the 3rd quarter valued at $30,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Tempus AI by 10.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after purchasing an additional 2,765 shares in the last quarter. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.