Tempus AI (NASDAQ:TEM) Shares Gap Up – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM) gapped up prior to trading on Wednesday . The stock had previously closed at $53.97, but opened at $55.95. Tempus AI shares last traded at $56.08, with a volume of 603,366 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America cut shares of Tempus AI from a “buy” rating to a “neutral” rating and raised their target price for the stock from $45.00 to $60.00 in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 target price on shares of Tempus AI in a report on Wednesday, August 7th. Loop Capital lifted their price target on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.22.

Tempus AI Stock Performance

The company’s fifty day moving average price is $51.80. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Institutional Investors Weigh In On Tempus AI

Several institutional investors and hedge funds have recently modified their holdings of TEM. NEA Management Company LLC grew its holdings in Tempus AI by 17.8% during the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares during the last quarter. Novo Holdings A S acquired a new position in Tempus AI during the 2nd quarter worth $142,605,000. Revolution Growth Management Company Inc. acquired a new stake in shares of Tempus AI in the second quarter valued at about $128,133,000. ARK Investment Management LLC increased its stake in shares of Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the period. Finally, Alphabet Inc. acquired a new position in shares of Tempus AI during the 2nd quarter worth about $54,289,000.

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.