Tempus AI (NASDAQ:TEM) Shares Gap Down - Here's Why

Shares of Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $73.77, but opened at $69.78. Tempus AI shares last traded at $67.50, with a volume of 328,322 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TEM shares. Stifel Nicolaus lowered Tempus AI from a "buy" rating to a "hold" rating and raised their price objective for the company from $45.00 to $65.00 in a research note on Monday. Bank of America lowered shares of Tempus AI from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $45.00 to $60.00 in a report on Wednesday, October 2nd. Needham & Company LLC restated a "buy" rating and issued a $47.00 target price on shares of Tempus AI in a report on Wednesday, August 7th. Loop Capital raised 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. Finally, Piper Sandler started coverage on shares of Tempus AI in a report on Monday, August 12th. They set a "neutral" rating and a $40.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $50.89.

Tempus AI Trading Down 4.4 %

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 3.52. The firm's 50-day simple moving average is $50.22.

Institutional Trading of Tempus AI

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new stake in shares of Tempus AI in the third quarter valued at approximately $30,000. Sandia Investment Management LP purchased a new stake in Tempus AI in the second quarter valued at about $136,000. Vestor Capital LLC purchased a new stake in Tempus AI during the 3rd quarter worth approximately $153,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Tempus AI during the third quarter valued at $258,000. Finally, Clarus Group Inc. acquired a new position in shares of Tempus AI in the third quarter valued at about $283,000.

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.

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