Tempus AI (NASDAQ:TEM) Shares Down 5.7% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) shares were down 5.7% during mid-day trading on Thursday . The stock traded as low as $54.75 and last traded at $54.84. Approximately 320,134 shares changed hands during trading, a decline of 73% from the average daily volume of 1,188,778 shares. The stock had previously closed at $58.15.

Analyst Ratings Changes

Several equities analysts recently issued reports on TEM shares. Loop Capital raised their price target on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Piper Sandler reiterated a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Bank of America lowered shares of Tempus AI from a “buy” rating to a “neutral” rating and increased their price objective for the company from $45.00 to $60.00 in a report on Wednesday, October 2nd. 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. Finally, JPMorgan Chase & Co. increased their price target on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Tempus AI has an average rating of “Moderate Buy” and an average price target of $54.22.

Tempus AI Price Performance

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 company’s fifty day simple moving average is $51.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. bought a new position in shares of Tempus AI during the 3rd quarter valued at about $30,000. Sandia Investment Management LP bought a new stake in Tempus AI during the 2nd quarter worth approximately $136,000. Vestor Capital LLC acquired a new stake in Tempus AI during the 3rd quarter worth approximately $153,000. Stifel Financial Corp bought a new position in Tempus AI in the third quarter valued at approximately $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Tempus AI in the third quarter valued at approximately $258,000.

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.