Tempus AI (NASDAQ:TEM) Shares Gap Up – Still a Buy?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $35.29, but opened at $36.92. Tempus AI shares last traded at $37.10, with a volume of 1,362,172 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on TEM. Piper Sandler restated a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Bank of America raised their target price on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Guggenheim assumed coverage on shares of Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective for the company. Finally, Loop Capital increased their target price on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Stock Down 0.5 %

The stock’s 50 day moving average is $50.06. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Insider Activity

In other Tempus AI news, major shareholder Bradley A. Keywell sold 395,800 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.95, for a total transaction of $16,999,610.00. Following the completion of the transaction, the insider now owns 16,164,449 shares of the company’s stock, valued at approximately $694,263,084.55. This trade represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew Polovin sold 51,504 shares of the business’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 completion of the transaction, the executive vice president now directly owns 246,085 shares of the company’s stock, valued at approximately $10,431,543.15. This trade represents a 17.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 845,041 shares of company stock worth $35,125,473 over the last 90 days.

Institutional Trading of Tempus AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in Tempus AI by 1.0% during the third quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock worth $45,920,000 after acquiring an additional 8,387 shares during the last quarter. Tidal Investments LLC acquired a new position in Tempus AI during the 3rd quarter worth $7,633,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Tempus AI by 6.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 126,500 shares of the company’s stock worth $7,160,000 after purchasing an additional 7,500 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Tempus AI by 0.4% during the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after purchasing an additional 539 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Tempus AI in the third quarter worth about $502,000. Hedge funds and other 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.