Tempus AI (NASDAQ:TEM) Shares Gap Up – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $58.87, but opened at $61.00. Tempus AI shares last traded at $64.07, with a volume of 240,306 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TEM shares. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and increased their price target for the company from $45.00 to $65.00 in a report on Monday, November 11th. Bank of America lowered shares of Tempus AI from a “buy” rating to a “neutral” rating and upped their price target for the company from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $47.00 target price on shares of Tempus AI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Loop Capital boosted their price objective on shares of Tempus AI from $48.00 to $57.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.22.

Tempus AI Trading Up 7.1 %

The firm’s 50-day moving average is $52.50. 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 Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NEA Management Company LLC purchased a new position in shares of Tempus AI during the second quarter worth approximately $160,048,000. Novo Holdings A S bought a new stake in Tempus AI during the 2nd quarter valued at $142,605,000. Revolution Growth Management Company Inc. bought a new position in shares of Tempus AI during the 2nd quarter worth $128,133,000. ARK Investment Management LLC increased its stake in shares of Tempus AI by 355.0% during the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after buying an additional 1,855,459 shares during the period. Finally, Alphabet Inc. bought a new stake in shares of Tempus AI in the second quarter valued at about $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.