Tempus AI (NASDAQ:TEM) Sets New 12-Month High – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s share price hit a new 52-week high on Tuesday . The company traded as high as $79.02 and last traded at $77.79, with a volume of 334848 shares trading hands. The stock had previously closed at $77.62.

Analyst Ratings Changes

TEM has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the stock from $45.00 to $65.00 in a research note on Monday. Needham & Company LLC restated a “buy” rating and issued a $47.00 price target on shares of Tempus AI 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 lifted their price objective for the stock from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Finally, Loop Capital lifted their price objective on shares of Tempus AI from $48.00 to $57.00 and gave the stock 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.22.

Tempus AI Stock Down 7.8 %

The company has a debt-to-equity ratio of 8.17, a quick ratio of 3.52 and a current ratio of 2.69. The stock’s 50-day simple moving average is $50.58.

Institutional Investors Weigh In On Tempus AI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dakota Wealth Management purchased a new stake in shares of Tempus AI in the third quarter valued at about $1,185,000. Davidson Kempner Capital Management LP acquired a new position in shares of Tempus AI during the second quarter worth about $2,271,000. NEA Management Company LLC acquired a new position in shares of Tempus AI during the second quarter worth about $160,048,000. Exchange Traded Concepts LLC acquired a new position in shares of Tempus AI during the third quarter worth about $3,458,000. Finally, Sculptor Capital LP acquired a new position in shares of Tempus AI during the second quarter worth about $5,085,000.

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.