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

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was down 7.9% during mid-day 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.

Analyst Upgrades and Downgrades

TEM has been the subject of several research analyst reports. Loop Capital lifted their price objective on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Piper Sandler restated a “neutral” rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Finally, Guggenheim began coverage on shares of Tempus AI in a research note on Monday. They issued a “buy” rating and a $74.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Tempus AI has an average rating of “Moderate Buy” and a consensus target price of $56.20.

Tempus AI Stock Performance

The company has a 50 day moving average of $53.18. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Hedge Funds Weigh In On Tempus AI

Large investors have recently modified their holdings of the business. Franklin Resources Inc. raised its position in Tempus AI by 1.0% during the third quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock worth $45,920,000 after acquiring an additional 8,387 shares in the last quarter. Tidal Investments LLC bought a new position in Tempus AI during the third quarter worth about $7,633,000. Teachers Retirement System of The State of Kentucky increased its position in Tempus AI by 6.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 126,500 shares of the company’s stock worth $7,160,000 after buying an additional 7,500 shares during the last quarter. Geode Capital Management LLC increased its position in Tempus AI by 0.4% during the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock worth $7,537,000 after buying an additional 539 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Tempus AI in the third quarter valued at approximately $502,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.