Tempus AI (NASDAQ:TEM) Shares Down 5.8%

Shares of Tempus AI, Inc. (NASDAQ:TEM) dropped 5.8% during trading on Tuesday . The stock traded as low as $43.56 and last traded at $44.53. Approximately 342,308 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,214,809 shares. The stock had previously closed at $47.27.

Wall Street Analysts Forecast Growth

TEM has been the topic of a number of recent analyst reports. William Blair initiated coverage on Tempus AI in a research note on Tuesday, July 9th. They set an “outperform” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 target price on shares of Tempus AI in a research note on Wednesday, August 7th. Bank of America initiated coverage on Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $41.00 target price on the stock. Loop Capital began coverage on shares of Tempus AI in a report on Tuesday, July 9th. They set a “buy” rating and a $48.00 price target on the stock. Finally, TD Cowen assumed coverage on Tempus AI in a report on Tuesday, July 9th. They set a “buy” rating and a $50.00 price target for the company. One equities research 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $45.56.

Tempus AI Price Performance

The business has a fifty day moving average price of $45.76.

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 firm had revenue of $165.97 million during the quarter, compared to analysts’ expectations of $159.10 million. On average, analysts anticipate that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

Institutional Trading of Tempus AI

Several hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Tempus AI in the second quarter valued at $4,165,000. Novo Holdings A S purchased a new stake in shares of Tempus AI during the 2nd quarter worth $142,605,000. Perceptive Advisors LLC bought a new stake in shares of Tempus AI in the 2nd quarter valued at about $9,625,000. Scientech Research LLC acquired a new position in shares of Tempus AI during the second quarter worth $756,000. Finally, Sculptor Capital LP acquired a new position in shares of Tempus AI during the second quarter valued at about $5,085,000.

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.