Tempus AI (NASDAQ:TEM) Trading Down 4.1% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock 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 Analysts Forecast Growth

TEM has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of 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 cut shares of Tempus AI from a “buy” rating to a “neutral” rating and increased their target price for the company from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Needham & Company LLC reissued a “buy” rating and set a $47.00 target price on shares of Tempus AI in a research report on Wednesday, August 7th. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and increased their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Finally, Loop Capital increased their target price on shares of Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.22.

Tempus AI Stock 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 stock’s 50 day moving average is $53.58.

Institutional Trading of Tempus AI

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI in the third quarter worth $30,000. Geode Capital Management LLC increased its stake in shares of Tempus AI by 0.4% in the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after acquiring an additional 539 shares during the period. Vestor Capital LLC acquired a new stake in shares of Tempus AI in the third quarter worth $153,000. The Manufacturers Life Insurance Company increased its stake in shares of Tempus AI by 10.2% in the third quarter. The Manufacturers Life Insurance Company now owns 29,789 shares of the company’s stock worth $1,686,000 after acquiring an additional 2,765 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Tempus AI in the third quarter worth $218,000.

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.