Tempus AI (NASDAQ:TEM) Shares Gap Up – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $50.77, but opened at $52.82. Tempus AI shares last traded at $55.66, with a volume of 2,764,572 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. 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. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and increased their price objective for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Guggenheim began coverage on Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $56.00 target price on shares of Tempus AI in a report on Tuesday, January 14th. Finally, Piper Sandler reissued a “neutral” rating and issued a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.36.

Tempus AI Price 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 has a fifty day moving average price of $44.11 and a 200 day moving average price of $47.97.

Insider Activity at Tempus AI

In other Tempus AI news, EVP Andrew Polovin sold 51,504 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.39, for a total value of $2,183,254.56. Following the sale, the executive vice president now directly owns 246,085 shares in the company, valued at $10,431,543.15. This represents a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David R. Epstein sold 620 shares of Tempus AI stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $41.81, for a total value of $25,922.20. Following the transaction, the director now directly owns 27,894 shares of the company’s stock, valued at approximately $1,166,248.14. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,862,758 shares of company stock worth $79,585,675 over the last three months.

Institutional Investors Weigh In On Tempus AI

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kovitz Investment Group Partners LLC bought a new stake in Tempus AI in the third quarter valued at about $1,367,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Tempus AI by 1,591.2% in the third 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 in the last quarter. Captrust Financial Advisors bought a new position in shares of Tempus AI during the 3rd quarter valued at about $2,726,000. Sigma Planning Corp acquired a new position in shares of Tempus AI in the 3rd quarter valued at approximately $1,323,000. Finally, Dakota Wealth Management bought a new stake in Tempus AI during the 3rd quarter worth approximately $1,185,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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.