Tempus AI (NASDAQ:TEM) Shares Up 7.3% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was up 7.3% during mid-day trading on Friday . The stock traded as high as $51.56 and last traded at $51.50. Approximately 235,872 shares were traded during trading, a decline of 79% from the average daily volume of 1,147,819 shares. The stock had previously closed at $48.01.

Analyst Ratings Changes

A number of brokerages have issued reports on TEM. Piper Sandler initiated coverage on Tempus AI in a report on Monday, August 12th. They issued a “neutral” rating and a $40.00 target price for the company. Morgan Stanley assumed coverage on Tempus AI in a report on Tuesday, July 9th. They issued an “overweight” rating and a $44.00 target price on the stock. Longbow Research started coverage on shares of Tempus AI in a report on Tuesday, July 9th. They set a “buy” rating and a $48.00 price target for the company. William Blair started coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued an “outperform” rating on the stock. Finally, Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.67.

Tempus AI Price Performance

The company’s 50 day moving average price is $52.17. 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 announced its quarterly earnings data on Tuesday, August 6th. The company reported ($6.77) 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. Analysts anticipate that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EFG Asset Management North America Corp. acquired a new position in Tempus AI during the 2nd quarter valued at about $1,333,000. ARK Investment Management LLC purchased a new position in shares of Tempus AI during the second quarter valued at approximately $18,294,000. Northwestern University purchased a new position in shares of Tempus AI during the second quarter valued at approximately $491,000. Alphabet Inc. bought a new stake in Tempus AI during the second quarter worth $54,289,000. Finally, Pier Capital LLC purchased a new stake in Tempus AI in the 2nd quarter valued at $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.