Tempus AI (NASDAQ:TEM) Stock Price Up 2% – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s share price was up 2% during trading on Tuesday . The company traded as high as $78.67 and last traded at $69.74. Approximately 17,873,241 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 12,048,808 shares. The stock had previously closed at $68.36.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TEM shares. Piper Sandler restated a “neutral” rating and issued a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Guggenheim began coverage on Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 target price on shares of Tempus AI in a report on Tuesday, January 14th. Bank of America raised their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, TD Cowen reiterated a “buy” rating and issued a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.55.

Tempus AI Stock Performance

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 business’s fifty day simple moving average is $44.60 and its 200 day simple moving average is $49.36.

Insider Buying and Selling at Tempus AI

In related news, EVP Erik Phelps sold 5,934 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $67.57, for a total value of $400,960.38. Following the completion of the sale, the executive vice president now owns 214,662 shares in the company, valued at $14,504,711.34. This represents a 2.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric P. Lefkofsky sold 80,388 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.53, for a total value of $5,428,601.64. Following the transaction, the chief executive officer now owns 5,293,005 shares of the company’s stock, valued at approximately $357,436,627.65. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,229,449 shares of company stock worth $102,293,124.

Institutional Investors Weigh In On Tempus AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new stake in Tempus AI during the 2nd quarter valued at $946,000. Carnegie Investment Counsel bought a new position in shares of Tempus AI in the 3rd quarter valued at $7,936,000. Exchange Traded Concepts LLC bought a new position in Tempus AI in the 3rd quarter valued at approximately $3,458,000. Renaissance Capital LLC acquired a new stake in Tempus AI in the third quarter valued at $633,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Tempus AI in the third quarter valued at about $258,000. 24.22% of the stock is owned by institutional investors.

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.