Shares of Tempus AI (TEM) plummeted 5.27% in the pre-market trading session on Monday, following Bank of America Securities' decision to maintain a "Neutral" rating on the company.
In a research report released earlier today, analyst Michael Ryskin from Bank of America Securities reiterated a "Hold" rating on Tempus AI, citing concerns over the company's growth prospects and competitive landscape.
The neutral rating from the influential Wall Street bank appears to have dampened investor sentiment, as some were likely anticipating a more positive outlook from the analysts. Tempus AI, a leading player in the artificial intelligence space, has seen its stock price surge in recent months amid the broader AI frenzy.
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