Tempus AI (NASDAQ:TEM) Stock Price Down 5.3%

Tempus AI, Inc. (NASDAQ:TEM)’s share price traded down 5.3% on Tuesday . The stock traded as low as $52.11 and last traded at $52.40. 571,425 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 1,222,170 shares. The stock had previously closed at $55.36.

Analysts Set New Price Targets

TEM has been the topic of a number of recent analyst reports. William Blair assumed coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They issued an “outperform” rating on the stock. Piper Sandler initiated coverage on Tempus AI in a research report on Monday, August 12th. They issued a “neutral” rating and a $40.00 target price on the stock. TD Cowen began coverage on Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $50.00 price target on the stock. Stifel Nicolaus started coverage on Tempus AI in a research note on Tuesday, July 9th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Morgan Stanley started coverage on Tempus AI in a research note on Tuesday, July 9th. They set an “overweight” rating and a $44.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Tempus AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.56.

Tempus AI Stock Down 7.5 %

The business has a 50 day moving average of $48.75.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($6.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.41) by ($2.36). The business had revenue of $165.97 million for the quarter, compared to the consensus estimate of $159.10 million. As a group, analysts forecast that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds have recently added to or reduced their stakes in TEM. Sandia Investment Management LP acquired a new stake in shares of Tempus AI in the second quarter valued at about $136,000. Northwestern University acquired a new stake in shares of Tempus AI during the 2nd quarter valued at approximately $491,000. Squarepoint Ops LLC purchased a new stake in shares of Tempus AI during the 2nd quarter worth approximately $633,000. WINTON GROUP Ltd acquired a new stake in shares of Tempus AI in the 2nd quarter worth approximately $634,000. Finally, Scientech Research LLC acquired a new stake in shares of Tempus AI in the 2nd quarter worth approximately $756,000.

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.