Tempus AI (NASDAQ:TEM) Stock Price Down 6.2%

Tempus AI, Inc. (NASDAQ:TEM)’s share price traded down 6.2% on Tuesday . The stock traded as low as $52.04 and last traded at $53.07. 398,629 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,198,254 shares. The stock had previously closed at $56.60.

Analyst Ratings Changes

A number of research analysts have issued reports on TEM shares. Loop Capital initiated coverage on Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $48.00 price objective for the company. TD Cowen initiated coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $50.00 price objective for the company. Piper Sandler began coverage on shares of Tempus AI in a research note on Monday, August 12th. They issued a “neutral” rating and a $40.00 target price on the stock. Bank of America initiated coverage on Tempus AI in a research report on Tuesday, July 9th. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $45.00 target price for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.56.

Tempus AI Stock Performance

The business’s 50-day moving average is $49.90.

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

Hedge Funds Weigh In On Tempus AI

A number of hedge funds have recently modified their holdings of TEM. EFG Asset Management North America Corp. bought a new stake in Tempus AI in the 2nd quarter worth approximately $1,333,000. ARK Investment Management LLC purchased a new stake in Tempus AI during the 2nd quarter valued at $18,294,000. Northwestern University bought a new stake in Tempus AI in the second quarter worth $491,000. Alphabet Inc. purchased a new position in Tempus AI during the second quarter worth $54,289,000. Finally, Pier Capital LLC bought a new position in Tempus AI during the second quarter valued at $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.