Tempus AI (NASDAQ:TEM) Stock Price Up 5% – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price shot up 5% during trading on Monday . The stock traded as high as $68.95 and last traded at $65.70. 158,119 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,183,667 shares. The stock had previously closed at $62.59.

Wall Street Analyst Weigh In

TEM has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $47.00 price target on shares of Tempus AI in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price 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 target on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and raised their price objective for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Finally, Bank of America lowered shares of Tempus AI from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Tempus AI has a consensus rating of “Moderate Buy” and an average price target of $54.22.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The stock has a 50 day moving average price of $53.15.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TEM. NEA Management Company LLC increased its stake in Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after purchasing an additional 813,169 shares during the last quarter. Novo Holdings A S purchased a new position in shares of Tempus AI in the 2nd quarter valued at $142,605,000. Revolution Growth Management Company Inc. acquired a new stake in Tempus AI during the 2nd quarter worth $128,133,000. ARK Investment Management LLC lifted its position in Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after acquiring an additional 1,855,459 shares during the last quarter. Finally, Alphabet Inc. acquired a new position in Tempus AI in the second quarter valued at $54,289,000.

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.