Tempus AI (NASDAQ:TEM) Shares Up 7.3%

Tempus AI, Inc. (NASDAQ:TEM)’s share price was up 7.3% during trading on Wednesday . The stock traded as high as $53.80 and last traded at $52.81. Approximately 732,723 shares traded hands during trading, a decline of 40% from the average daily volume of 1,227,900 shares. The stock had previously closed at $49.23.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TEM shares. Morgan Stanley started coverage on Tempus AI in a research report on Tuesday, July 9th. They set an “overweight” rating and a $44.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. William Blair started coverage on Tempus AI in a research report on Tuesday, July 9th. They set an “outperform” rating on the stock. Loop Capital started coverage on Tempus AI in a research report on Tuesday, July 9th. They set a “buy” rating and a $48.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $47.00 target price on shares of Tempus AI in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.56.

Tempus AI Price Performance

The business has a fifty day moving average of $47.50.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($6.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.41) by ($2.36). The business had revenue of $165.97 million during the quarter, compared to analyst estimates of $159.10 million. Equities analysts expect that Tempus AI, Inc. will post -6.51 earnings per share for the current fiscal year.

Institutional Trading of Tempus AI

Several institutional investors and hedge funds have recently modified their holdings of the stock. NEA Management Company LLC purchased a new stake in shares of Tempus AI in the second quarter worth approximately $160,048,000. Novo Holdings A S purchased a new stake in shares of Tempus AI in the second quarter worth approximately $142,605,000. Revolution Growth Management Company Inc. purchased a new stake in shares of Tempus AI in the second quarter worth approximately $128,133,000. Alphabet Inc. purchased a new stake in shares of Tempus AI in the second quarter worth approximately $54,289,000. Finally, Lingotto Investment Management LLP purchased a new stake in shares of Tempus AI in the second quarter worth approximately $32,685,000.

Tempus AI Company Profile

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.