Tempus AI (NASDAQ:TEM) Trading 7.4% Higher – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM) was up 7.4% during trading on Friday . The company traded as high as $35.53 and last traded at $35.48. Approximately 2,141,394 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 1,553,387 shares. The stock had previously closed at $33.03.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and upped their price target for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Guggenheim began coverage on shares of Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective for the company. Bank of America boosted their target price on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Wolfe Research began coverage on Tempus AI in a research report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target for the company. Finally, Loop Capital increased their price objective on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Tempus AI Stock Up 7.4 %

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The company’s 50 day moving average is $51.96.

Insider Buying and Selling

In other Tempus AI news, COO Ryan Fukushima sold 3,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $40.23, for a total transaction of $140,805.00. Following the transaction, the chief operating officer now directly owns 1,003,707 shares of the company’s stock, valued at approximately $40,379,132.61. This trade represents a 0.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James William Rogers sold 83,025 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $42.30, for a total value of $3,511,957.50. Following the transaction, the chief financial officer now directly owns 231,280 shares in the company, valued at approximately $9,783,144. This represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 657,386 shares of company stock worth $28,080,905 over the last 90 days.

Institutional Trading of Tempus AI

Several hedge funds have recently modified their holdings of the business. NEA Management Company LLC acquired a new position in shares of Tempus AI during the 2nd quarter worth $160,048,000. Novo Holdings A S purchased a new stake in Tempus AI in the 2nd quarter valued at approximately $142,605,000. Revolution Growth Management Company Inc. acquired a new stake in Tempus AI during the 2nd quarter valued at $128,133,000. ARK Investment Management LLC raised its holdings in shares of Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after acquiring an additional 1,855,459 shares during the last quarter. Finally, Alphabet Inc. acquired a new stake in shares of Tempus AI during the second quarter valued at $54,289,000. 24.22% of the stock is 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.