Tempus AI, Inc. (NASDAQ:TEM – Get Free Report) shares dropped 5.3% on Tuesday . The company traded as low as $52.11 and last traded at $52.40. Approximately 571,425 shares changed hands during trading, a decline of 53% from the average daily volume of 1,222,170 shares. The stock had previously closed at $55.36.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 target price on shares of Tempus AI in a research note on Wednesday, August 7th. Stifel Nicolaus began coverage on Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $45.00 price objective on the stock. William Blair assumed coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued an “outperform” rating for the company. Bank of America started coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $41.00 price target on the stock. Finally, TD Cowen assumed coverage on Tempus AI in a 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.56.
Check Out Our Latest Stock Analysis on TEM
Tempus AI Trading Down 7.5 %
Tempus AI (NASDAQ:TEM – Get Free Report) last posted its quarterly earnings results 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 business had revenue of $165.97 million during the quarter, compared to analysts’ expectations of $159.10 million. On average, research analysts expect that Tempus AI, Inc. will post -6.51 earnings per share for the current year.
Institutional Investors Weigh In On Tempus AI
Several large investors have recently made changes to their positions in the business. EFG Asset Management North America Corp. purchased a new stake in shares of Tempus AI in the second quarter worth about $1,333,000. ARK Investment Management LLC purchased a new position in Tempus AI in the 2nd quarter worth approximately $18,294,000. Northwestern University acquired a new stake in Tempus AI in the second quarter valued at approximately $491,000. Alphabet Inc. purchased a new stake in shares of Tempus AI during the second quarter valued at approximately $54,289,000. Finally, Pier Capital LLC acquired a new position in shares of Tempus AI during the second quarter worth $2,301,000.
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.
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