Tempus AI (NASDAQ:TEM) Sees Large Volume Increase - Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) saw an uptick in trading volume on Tuesday . 6,989,827 shares changed hands during trading, an increase of 10% from the previous session's volume of 6,372,696 shares.The stock last traded at $67.04 and had previously closed at $62.56.

Wall Street Analyst Weigh In

TEM has been the topic of a number of research reports. BTIG Research began coverage on Tempus AI in a research report on Monday, April 21st. They set a "buy" rating and a $60.00 target price on the stock. Piper Sandler upped their price objective on shares of Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Guggenheim reiterated a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Bank of America upped their target price on shares of Tempus AI from $48.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley lifted their price target on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Tempus AI presently has an average rating of "Moderate Buy" and a consensus target price of $63.42.

Tempus AI Trading Up 0.3%

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 stock has a market capitalization of $9.45 billion and a P/E ratio of -7.00. The stock has a 50-day moving average price of $52.07 and a two-hundred day moving average price of $51.79.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.03. The company had revenue of $255.74 million during the quarter, compared to the consensus estimate of $248.13 million. Tempus AI's quarterly revenue was up 75.4% on a year-over-year basis. On average, research analysts forecast that Tempus AI, Inc. will post -6.15 EPS for the current fiscal year.

Insider Transactions at Tempus AI

In related news, Director Wayne A.I. Frederick sold 3,000 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $45.54, for a total transaction of $136,620.00. Following the sale, the director now directly owns 26,514 shares of the company's stock, valued at $1,207,447.56. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew Polovin sold 13,135 shares of Tempus AI stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total value of $603,947.30. Following the completion of the sale, the executive vice president now owns 154,171 shares of the company's stock, valued at $7,088,782.58. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 723,042 shares of company stock worth $37,642,690. Corporate insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Operose Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter valued at about $25,000. Cherry Tree Wealth Management LLC purchased a new stake in Tempus AI in the first quarter worth about $31,000. University of Texas Texas AM Investment Management Co. purchased a new position in Tempus AI during the first quarter valued at approximately $33,000. Farther Finance Advisors LLC purchased a new position in shares of Tempus AI during the 4th quarter valued at $34,000. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock valued at $36,000 after buying an additional 965 shares in the last quarter. 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.