Tempus AI, Inc. (NASDAQ:TEM – Get Free Report)’s share price dropped 10.6% during trading on Tuesday . The stock traded as low as $53.00 and last traded at $53.07. Approximately 757,889 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 1,226,185 shares. The stock had previously closed at $59.38.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on TEM shares. Loop Capital began coverage on Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $48.00 target price for the company. TD Cowen began coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. William Blair began coverage on Tempus AI in a research note on Tuesday, July 9th. They set an “outperform” rating for the company. Finally, Stifel Nicolaus started coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.56.
Tempus AI Stock Down 12.3 %
The company has a 50 day moving average of $43.62.
Tempus AI (NASDAQ:TEM – Get Free Report) last released 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 business had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.10 million. On average, analysts forecast that Tempus AI, Inc. will post -6.51 earnings per share for the current year.
Institutional Investors Weigh In On Tempus AI
Several hedge funds and other institutional investors have recently made changes to their positions in the company. NEA Management Company LLC bought a new stake in shares of Tempus AI during the 2nd quarter worth approximately $160,048,000. Novo Holdings A S purchased a new stake in shares of Tempus AI during the second quarter valued at $142,605,000. Revolution Growth Management Company Inc. bought a new position in shares of Tempus AI in the second quarter worth about $128,133,000. Alphabet Inc. purchased a new position in Tempus AI in the 2nd quarter worth about $54,289,000. Finally, Lingotto Investment Management LLP bought a new stake in Tempus AI during the 2nd quarter valued at about $32,685,000.
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.