Tempus AI (NASDAQ:TEM) Shares Down 10.6%

Tempus AI, Inc. (NASDAQ:TEM) was down 10.6% during trading on Tuesday . The stock traded as low as $53.00 and last traded at $53.07. Approximately 757,889 shares traded hands during trading, a decline of 38% from the average daily volume of 1,226,185 shares. The stock had previously closed at $59.38.

Wall Street Analysts Forecast Growth

TEM has been the subject of a number of analyst reports. Piper Sandler initiated coverage on shares of Tempus AI in a report on Monday, August 12th. They issued a “neutral” rating and a $40.00 price objective for the company. Bank of America started coverage on Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $41.00 price objective on the stock. TD Cowen initiated coverage on Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $50.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 price target on shares of Tempus AI in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI has a consensus rating of “Moderate Buy” and a consensus price target of $45.56.

Tempus AI Price Performance

The stock has a 50 day simple moving average of $45.18.

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 for the quarter, compared to the consensus estimate of $159.10 million. As a group, research analysts anticipate that Tempus AI, Inc. will post -6.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Sandia Investment Management LP purchased a new position in shares of Tempus AI in the 2nd quarter valued at $136,000. Northwestern University purchased a new stake in Tempus AI in the 2nd quarter valued at $491,000. Squarepoint Ops LLC acquired a new stake in Tempus AI during the 2nd quarter worth $633,000. WINTON GROUP Ltd purchased 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 valued at $756,000.

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.