Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume – Should You Buy?

Tempus AI, Inc. (NASDAQ:TEM) shares saw strong trading volume on Tuesday . 1,217,508 shares were traded during trading, an increase of 11% from the previous session’s volume of 1,095,627 shares.The stock last traded at $40.87 and had previously closed at $49.50.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen initiated coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $50.00 price objective on the stock. Piper Sandler initiated coverage on Tempus AI in a research note on Monday, August 12th. They set a “neutral” rating and a $40.00 price objective for the company. Morgan Stanley initiated coverage on shares of Tempus AI in a report on Tuesday, July 9th. They set an “overweight” rating and a $44.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Tempus AI in a report on Wednesday, August 7th. Finally, Longbow Research assumed coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $48.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.67.

Tempus AI Stock Down 8.9 %

The firm’s fifty day moving average price is $50.47. The company has a quick ratio of 3.52, a current ratio of 3.70 and a debt-to-equity ratio of 4.50.

Tempus AI (NASDAQ:TEM) last issued its earnings results 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 the consensus estimate of $159.10 million. On average, sell-side analysts anticipate that Tempus AI, Inc. will post -6.51 EPS for the current year.

Institutional Investors Weigh In On Tempus AI

A number of large investors have recently modified their holdings of TEM. EFG Asset Management North America Corp. bought a new stake in shares of Tempus AI during the second quarter worth $1,333,000. ARK Investment Management LLC acquired a new position in shares of Tempus AI during the second quarter valued at about $18,294,000. Northwestern University bought a new position in Tempus AI in the second quarter worth approximately $491,000. Alphabet Inc. bought a new stake in Tempus AI during the 2nd quarter valued at $54,289,000. Finally, Pier Capital LLC bought a new stake in Tempus AI during the 2nd quarter valued at $2,301,000.

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.