Tempus AI (NASDAQ:TEM) Trading Up 2.9% - Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) were up 2.9% on Wednesday . The company traded as high as $64.59 and last traded at $63.73. Approximately 5,242,319 shares changed hands during trading, a decline of 23% from the average daily volume of 6,799,711 shares. The stock had previously closed at $61.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TEM shares. Guggenheim restated a "buy" rating on shares of Tempus AI in a research note on Tuesday, February 25th. BTIG Research initiated coverage on Tempus AI in a research report on Monday, April 21st. They issued a "buy" rating and a $60.00 target price on the stock. Bank of America upped their target price on Tempus AI from $48.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Morgan Stanley upped their target price on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered Tempus AI from an "overweight" rating to a "neutral" rating and upped their target price for the company from $50.00 to $55.00 in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.42.

Tempus AI Trading Down 6.6%

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 firm has a market capitalization of $10.15 billion and a price-to-earnings ratio of -7.52. The company has a 50 day moving average price of $52.78 and a two-hundred day moving average price of $51.98.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. The business had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. The firm's revenue for the quarter 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 year.

Insider Activity at Tempus AI

In other Tempus AI news, EVP Erik Phelps sold 8,415 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $63.21, for a total value of $531,912.15. Following the completion of the sale, the executive vice president now directly owns 149,096 shares in the company, valued at $9,424,358.16. This represents a 5.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 3,000 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $45.54, for a total value of $136,620.00. Following the completion of the sale, the director now owns 26,514 shares of the company's stock, valued at approximately $1,207,447.56. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,888 shares of company stock valued at $7,938,111. 27.60% of the stock is owned by insiders.

Institutional Trading of Tempus AI

Several large investors have recently added to or reduced their stakes in TEM. Vanguard Group Inc. boosted its holdings in Tempus AI by 6,247.5% during the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock valued at $289,204,000 after acquiring an additional 5,900,668 shares during the period. ARK Investment Management LLC raised its position in shares of Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock worth $186,343,000 after acquiring an additional 3,141,487 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Tempus AI by 166.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after acquiring an additional 2,021,394 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after buying an additional 2,021,394 shares during the period. Finally, Franklin Resources Inc. increased its position in Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after buying an additional 1,950,862 shares during the period. 24.22% of the stock is currently owned by hedge funds and other 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.