Tempus AI (NASDAQ:TEM) Trading Down 5.8%

Shares of Tempus AI, Inc. (NASDAQ:TEM) dropped 5.8% on Wednesday . The stock traded as low as $64.20 and last traded at $64.51. Approximately 166,820 shares were traded during trading, a decline of 86% from the average daily volume of 1,225,240 shares. The stock had previously closed at $68.47.

Wall Street Analyst Weigh In

TEM has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $47.00 price target on shares of Tempus AI in a research report on Wednesday, August 7th. Bank of America started coverage on Tempus AI in a research report on Tuesday, July 9th. They issued a “buy” rating and a $41.00 price target for the company. William Blair started coverage on Tempus AI in a research report on Tuesday, July 9th. They issued an “outperform” rating for the company. Finally, TD Cowen started coverage on Tempus AI in a research report on Tuesday, July 9th. They issued a “buy” rating and a $50.00 price target for the company. One analyst has rated the stock with a hold rating and nine 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 target price of $45.56.

Tempus AI Price Performance

The business has a 50-day moving average of $42.32.

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

Institutional Trading of Tempus AI

Institutional investors have recently bought and sold shares of the stock. Sandia Investment Management LP acquired a new stake in Tempus AI in the 2nd quarter valued at $136,000. Northwestern University acquired a new position in Tempus AI in the second quarter worth $491,000. Squarepoint Ops LLC acquired a new position in Tempus AI in the second quarter worth $633,000. WINTON GROUP Ltd acquired a new position in Tempus AI in the second quarter worth $634,000. Finally, Scientech Research LLC acquired a new position in Tempus AI in the second quarter worth $756,000.

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.