Tempus AI (NASDAQ:TEM) Shares Down 5.8%

Tempus AI, Inc. (NASDAQ:TEM)’s share price was down 5.8% during trading on Wednesday . The stock traded as low as $64.20 and last traded at $64.51. Approximately 166,820 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,225,240 shares. The stock had previously closed at $68.47.

Analyst Ratings Changes

A number of brokerages have issued reports on TEM. Piper Sandler started coverage on Tempus AI in a research note on Monday, August 12th. They issued a “neutral” rating and a $40.00 price target on the stock. Longbow Research started coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They issued a “buy” rating and a $48.00 target price on the stock. Stifel Nicolaus initiated coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They set a “buy” rating and a $45.00 price target for the company. Morgan Stanley assumed coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set an “overweight” rating and a $44.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research note 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.56.

Tempus AI Stock Performance

The company has a 50-day simple moving average of $41.13.

Tempus AI (NASDAQ:TEM) 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 during the quarter, compared to the consensus estimate of $159.10 million. On average, research analysts anticipate that Tempus AI, Inc. will post -6.51 earnings per share for the current fiscal year.

Institutional Trading of Tempus AI

A number of hedge funds have recently made changes to their positions in the company. Sandia Investment Management LP purchased a new stake in shares of Tempus AI during the second quarter worth about $136,000. Northwestern University acquired a new position in shares of Tempus AI in the 2nd quarter valued at approximately $491,000. Squarepoint Ops LLC purchased a new position in shares of Tempus AI during the 2nd quarter valued at approximately $633,000. WINTON GROUP Ltd acquired a new position in Tempus AI during the 2nd quarter worth $634,000. Finally, Scientech Research LLC acquired a new position in Tempus AI in the second quarter worth about $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.