Tempus AI (NASDAQ:TEM) Shares Up 1.3% – Still a Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) traded up 1.3% during mid-day trading on Monday . The company traded as high as $47.88 and last traded at $47.80. 3,700,512 shares were traded during mid-day trading, a decline of 25% from the average session volume of 4,927,286 shares. The stock had previously closed at $47.17.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TEM shares. Piper Sandler cut their target price on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and increased their price target for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Bank of America increased their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Finally, William Blair restated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Price Performance

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The company’s 50-day moving average is $55.33 and its two-hundred day moving average is $51.65.

Insider Transactions at Tempus AI

In related news, CEO Eric P. Lefkofsky sold 3,240,234 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the transaction, the chief executive officer now owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. This represents a 39.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bradley A. Keywell sold 170,720 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $35.45, for a total value of $6,052,024.00. Following the completion of the transaction, the insider now owns 15,993,729 shares of the company’s stock, valued at $566,977,693.05. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,749,469 shares of company stock valued at $322,529,733.

Hedge Funds Weigh In On Tempus AI

Institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Tempus AI in the 3rd quarter valued at approximately $306,000. First Horizon Advisors Inc. bought a new position in Tempus AI during the 3rd quarter worth $30,000. The Manufacturers Life Insurance Company lifted its holdings in Tempus AI by 10.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after buying an additional 2,765 shares during the period. Captrust Financial Advisors bought a new stake in shares of Tempus AI in the 3rd quarter valued at about $2,726,000. Finally, NEA Management Company LLC increased its stake in shares of Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after buying an additional 813,169 shares during the period. 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.