Tempus AI (NASDAQ:TEM) Shares Gap Up to $50.09

Tempus AI, Inc. (NASDAQ:TEM)’s share price gapped up prior to trading on Friday . The stock had previously closed at $50.09, but opened at $51.35. Tempus AI shares last traded at $51.51, with a volume of 91,259 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Bank of America assumed coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $41.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $45.00 target price on the stock. Morgan Stanley assumed coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued an “overweight” rating and a $44.00 target price on the stock. Longbow Research assumed coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, TD Cowen assumed coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.56.

Tempus AI Stock Performance

The firm has a fifty day moving average price of $48.08.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings data 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 firm had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.10 million. Analysts expect that Tempus AI, Inc. will post -6.51 EPS for the current year.

Institutional Trading of Tempus AI

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