Tempus AI (NASDAQ:TEM) Shares Gap Up – What’s Next?

Shares of Tempus AI, Inc. (NASDAQ:TEM) gapped up prior to trading on Wednesday . The stock had previously closed at $58.87, but opened at $61.00. Tempus AI shares last traded at $64.07, with a volume of 240,306 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and boosted their target price for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Loop Capital raised their target price on shares of 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. boosted their price target on shares of Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Bank of America cut shares of Tempus AI from a “buy” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Tempus AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.22.

Tempus AI Stock Performance

The company’s 50-day moving average is $52.50. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Hedge Funds Weigh In On Tempus AI

Institutional investors and hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after buying an additional 1,145,698 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Tempus AI during the third quarter valued at $1,323,000. Dakota Wealth Management purchased a new stake in shares of Tempus AI during the third quarter valued at $1,185,000. Davidson Kempner Capital Management LP bought a new stake in Tempus AI in the 2nd quarter worth about $2,271,000. Finally, NEA Management Company LLC bought a new stake in Tempus AI in the 2nd quarter worth about $160,048,000.

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.