Tempus AI (NASDAQ:TEM) Shares Up 1.4% - Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) traded up 1.4% on Wednesday . The company traded as high as $70.46 and last traded at $70.33. 5,143,730 shares were traded during trading, a decline of 26% from the average session volume of 6,920,937 shares. The stock had previously closed at $69.38.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Guggenheim restated a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Wolfe Research cut Tempus AI from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Morgan Stanley raised their price objective on Tempus AI from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. 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, JPMorgan Chase & Co. cut Tempus AI from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Tempus AI currently has a consensus rating of "Moderate Buy" and an average target price of $63.42.

Tempus AI Stock Performance

The company has a 50-day simple moving average of $54.65 and a two-hundred day simple moving average of $52.33. 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 $12.33 billion and a P/E ratio of -9.13.

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

Insider Activity

In other news, EVP Andrew Polovin sold 17,552 shares of Tempus AI stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $63.43, for a total transaction of $1,113,323.36. Following the completion of the transaction, the executive vice president now directly owns 138,877 shares in the company, valued at approximately $8,808,968.11. This trade represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David R. Epstein sold 990 shares of Tempus AI stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $46.83, for a total transaction of $46,361.70. Following the transaction, the director now owns 26,284 shares of the company's stock, valued at $1,230,879.72. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,888 shares of company stock worth $7,938,111. Insiders own 27.60% of the company's stock.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its holdings in Tempus AI by 35.9% in the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock worth $361,867,000 after acquiring an additional 1,981,755 shares during the last quarter. Vanguard Group Inc. raised its holdings in Tempus AI by 6,247.5% in the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock worth $289,204,000 after acquiring an additional 5,900,668 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Tempus AI by 31.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after acquiring an additional 1,021,460 shares during 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 buying an additional 1,016,384 shares during 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 buying an additional 1,950,862 shares during the last quarter. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

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.