Tempus AI (NASDAQ:TEM) Shares Down 8.3% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM) shares fell 8.3% during trading on Thursday . The stock traded as low as $61.33 and last traded at $62.42. 207,041 shares traded hands during trading, a decline of 82% from the average session volume of 1,172,858 shares. The stock had previously closed at $68.08.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Loop Capital upped 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. 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. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and raised their target price for the stock from $45.00 to $65.00 in a research report on Monday. Finally, Bank of America lowered Tempus AI from a “buy” rating to a “neutral” rating and raised their price target for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.22.

Tempus AI Stock Down 13.4 %

The firm’s 50 day moving average price is $51.19. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. EFG Asset Management North America Corp. acquired a new position in Tempus AI during the second quarter valued at $1,333,000. ARK Investment Management LLC acquired a new stake in Tempus AI in the 2nd quarter valued at $18,294,000. Northwestern University acquired a new position in Tempus AI during the second quarter worth $491,000. Alphabet Inc. acquired a new position in Tempus AI in the second quarter valued at about $54,289,000. Finally, Pier Capital LLC bought a new stake in Tempus AI during the second quarter worth about $2,301,000.

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.