Tempus AI (NASDAQ:TEM) Shares Up 6.9% - Should You Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) were up 6.9% during mid-day trading on Friday . The company traded as high as $62.97 and last traded at $62.71. Approximately 4,929,189 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 6,832,868 shares. The stock had previously closed at $58.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TEM shares. William Blair restated a "market perform" rating on shares of Tempus AI in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered Tempus AI from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. BTIG Research started coverage on Tempus AI in a research note on Monday, April 21st. They set a "buy" rating and a $60.00 price objective for the company. Piper Sandler raised their price objective on Tempus AI from $55.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a research note on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.42.

Tempus AI Trading Up 5.8%

The company has a market cap of $10.75 billion and a price-to-earnings ratio of -7.96. The firm has a 50-day moving average price of $53.28 and a 200 day moving average price of $52.06. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

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

Insider Buying and Selling

In related news, Director David R. Epstein sold 990 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $46.83, for a total value of $46,361.70. Following the sale, the director now owns 26,284 shares of the company's stock, valued at approximately $1,230,879.72. This trade represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Polovin sold 13,135 shares of the firm's stock in a transaction that occurred on 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 directly owns 154,171 shares in the company, valued at approximately $7,088,782.58. This trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,888 shares of company stock valued at $7,938,111. Insiders own 27.60% of the company's stock.

Institutional Trading of Tempus AI

Several hedge funds have recently made changes to their positions in TEM. ARK Investment Management LLC raised its stake in Tempus AI by 35.9% during the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock valued at $361,867,000 after acquiring an additional 1,981,755 shares in the last quarter. Vanguard Group Inc. raised its stake 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 in the last quarter. Nikko Asset Management Americas Inc. raised its stake in Tempus AI by 31.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock valued at $205,401,000 after acquiring an additional 1,021,460 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock valued at $205,284,000 after acquiring an additional 1,016,384 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock valued at $93,251,000 after acquiring an additional 1,950,862 shares in the last quarter. Institutional investors 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.