Tempus AI (NASDAQ:TEM) Stock Price Down 4.1% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s share price dropped 4.1% during trading on Tuesday . The company traded as low as $59.85 and last traded at $60.35. Approximately 191,975 shares changed hands during trading, a decline of 84% from the average daily volume of 1,181,020 shares. The stock had previously closed at $62.94.

Wall Street Analyst Weigh In

TEM has been the subject of a number of research analyst reports. Loop Capital raised their target price on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Bank of America lowered Tempus AI from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 price target on shares of Tempus AI in a report on Wednesday, August 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Tempus AI currently has an average rating of “Moderate Buy” and a consensus price target of $54.22.

Tempus AI Trading Down 9.0 %

The stock’s 50-day simple moving average is $53.31. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Institutional Inflows and Outflows

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

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.