Tempus AI (NASDAQ:TEM) Trading Down 8.3% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research report on Tuesday. Bank of America cut shares of 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 report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 price target on shares of Tempus AI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and lifted their target price for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Tempus AI presently has a consensus rating of “Moderate Buy” and an average price target of $54.22.

Tempus AI Trading Down 7.5 %

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The business has a fifty day simple moving average of $51.25.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds have recently bought and sold shares of TEM. First Horizon Advisors Inc. acquired a new position in shares of Tempus AI during the 3rd quarter worth about $30,000. Sandia Investment Management LP purchased a new position in shares of Tempus AI in the second quarter valued at approximately $136,000. Vestor Capital LLC acquired a new stake in shares of Tempus AI in the third quarter worth approximately $153,000. Stifel Financial Corp acquired a new stake in shares of Tempus AI in the third quarter worth approximately $218,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Tempus AI in the 3rd quarter valued at $258,000.

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.