Tempus AI (NASDAQ:TEM) Shares Down 7.9% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was down 7.9% during trading on Monday . The company traded as low as $46.33 and last traded at $46.47. Approximately 2,430,316 shares changed hands during mid-day trading, an increase of 98% from the average daily volume of 1,226,817 shares. The stock had previously closed at $50.44.

Wall Street Analyst Weigh In

TEM has been the topic of several research analyst reports. Guggenheim began coverage on shares of Tempus AI in a research note on Monday. They set a “buy” rating and a $74.00 price objective on the stock. Bank of America lowered Tempus AI from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Loop Capital boosted their price objective on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and raised their target price for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.20.

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 firm has a 50 day moving average of $53.54.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. acquired a new position in Tempus AI during the third quarter valued at approximately $30,000. Sandia Investment Management LP acquired a new stake in Tempus AI in the second quarter worth $136,000. Vestor Capital LLC bought a new position in shares of Tempus AI during the third quarter worth $153,000. Stifel Financial Corp acquired a new position in shares of Tempus AI in the 3rd quarter valued at $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Tempus AI in the 3rd quarter valued at $258,000. Institutional investors and hedge funds 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.