Tempus AI (NASDAQ:TEM) Shares Gap Up – Time to Buy?

Shares of Tempus AI, Inc. (NASDAQ:TEM) gapped up prior to trading on Wednesday . The stock had previously closed at $53.97, but opened at $55.95. Tempus AI shares last traded at $56.08, with a volume of 603,366 shares traded.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEM. Needham & Company LLC reissued a “buy” rating and set a $47.00 price target on shares of Tempus AI in a report on Wednesday, August 7th. Loop Capital raised their target price on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price target on shares of Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Finally, Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and lifted their price target for the company from $45.00 to $60.00 in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.22.

Tempus AI Trading Down 9.8 %

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 firm has a 50 day moving average price of $51.80.

Hedge Funds Weigh In On Tempus AI

Several large investors have recently added to or reduced their stakes in the business. EFG Asset Management North America Corp. bought a new position in Tempus AI during the 2nd quarter worth $1,333,000. ARK Investment Management LLC bought a new position in Tempus AI in the 2nd quarter worth approximately $18,294,000. Northwestern University acquired a new stake in Tempus AI in the 2nd quarter valued at approximately $491,000. Alphabet Inc. bought a new stake in shares of Tempus AI during the second quarter valued at about $54,289,000. Finally, Pier Capital LLC acquired a new stake in shares of Tempus AI in the 2nd quarter worth approximately $2,301,000.

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.