Tempus AI (NASDAQ:TEM) Trading 6.4% Higher – Here’s What Happened

by · The Markets Daily

Tempus AI, Inc. (NASDAQ:TEM – Get Free Report)’s share price traded up 6.4% on Tuesday . The stock traded as high as $46.22 and last traded at $46.11. 589,929 shares changed hands during trading, a decline of 47% from the average session volume of 1,121,543 shares. The stock had previously closed at $43.34.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 price objective on shares of Tempus AI in a research note on Wednesday, August 7th. TD Cowen began coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $50.00 price target on the stock. Bank of America cut shares of Tempus AI from a “buy” rating to a “neutral” rating and increased their price target for the company from $45.00 to $60.00 in a research note on Wednesday, October 2nd. William Blair began coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set an “outperform” rating on the stock. Finally, 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 research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Tempus AI presently has an average rating of “Moderate Buy” and an average price target of $48.67.

View Our Latest Stock Analysis on Tempus AI

Tempus AI Stock Down 2.0 %

The stock has a fifty day simple moving average of $51.47. The company has a debt-to-equity ratio of 4.50, a quick ratio of 3.52 and a current ratio of 3.70.

Tempus AI (NASDAQ:TEM – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($6.77) earnings per share 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. Sell-side analysts anticipate that Tempus AI, Inc. will post -6.51 EPS for the current year.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NEA Management Company LLC acquired a new position in shares of Tempus AI during the 2nd quarter worth about $160,048,000. Novo Holdings A S acquired a new position in shares of Tempus AI during the 2nd quarter worth about $142,605,000. Revolution Growth Management Company Inc. acquired a new position in Tempus AI in the 2nd quarter valued at about $128,133,000. Alphabet Inc. acquired a new position in Tempus AI in the 2nd quarter valued at about $54,289,000. Finally, Lingotto Investment Management LLP acquired a new position in Tempus AI in the 2nd quarter valued at about $32,685,000.

About Tempus AI

(Get Free Report)

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.

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