Tempus AI (NASDAQ:TEM) Shares Up 7.3%

Tempus AI, Inc. (NASDAQ:TEM) shot up 7.3% during trading on Wednesday . The stock traded as high as $53.80 and last traded at $52.81. 732,723 shares were traded during trading, a decline of 40% from the average session volume of 1,227,900 shares. The stock had previously closed at $49.23.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TEM. Morgan Stanley began coverage on Tempus AI in a research note on Tuesday, July 9th. They set an “overweight” rating and a $44.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $47.00 target price on shares of Tempus AI in a research note on Wednesday, August 7th. Stifel Nicolaus initiated coverage on Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler started coverage on Tempus AI in a research note on Monday, August 12th. They issued a “neutral” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Tempus AI currently has an average rating of “Moderate Buy” and an average target price of $45.56.

Tempus AI Stock Up 4.2 %

The firm has a fifty day simple moving average of $47.50.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($6.77) EPS for the quarter, missing analysts’ consensus estimates of ($4.41) by ($2.36). The firm had revenue of $165.97 million during the quarter, compared to the consensus estimate of $159.10 million. On average, equities research analysts anticipate that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently bought and sold shares of the company. NEA Management Company LLC acquired a new position in Tempus AI in the 2nd quarter worth about $160,048,000. Novo Holdings A S acquired a new position in Tempus AI in the 2nd quarter worth about $142,605,000. Revolution Growth Management Company Inc. acquired a new position in Tempus AI in the 2nd quarter worth about $128,133,000. Alphabet Inc. acquired a new position in Tempus AI in the 2nd quarter worth about $54,289,000. Finally, Lingotto Investment Management LLP acquired a new position in Tempus AI in the 2nd quarter worth about $32,685,000.

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.