Tempus AI (NASDAQ:TEM) Trading 10.4% Higher

Tempus AI, Inc. (NASDAQ:TEM) shares traded up 10.4% during mid-day trading on Thursday . The company traded as high as $60.00 and last traded at $59.31. 162,677 shares were traded during trading, a decline of 87% from the average session volume of 1,205,353 shares. The stock had previously closed at $53.74.

Analyst Upgrades and Downgrades

Several analysts recently commented on TEM shares. JPMorgan Chase & Co. upped their price target on shares of Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Piper Sandler began 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 Tempus AI in a research note on Tuesday, July 9th. They issued an “overweight” rating and a $44.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $47.00 price target on shares of Tempus AI in a research note on Wednesday, August 7th. Finally, Longbow Research began coverage on Tempus AI in a report on Tuesday, July 9th. They set a “buy” rating and a $48.00 price target for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.56.

Tempus AI Stock Down 9.8 %

The firm’s 50 day moving average is $45.49.

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 business had revenue of $165.97 million for the quarter, compared to the consensus estimate of $159.10 million. As a group, analysts forecast that Tempus AI, Inc. will post -6.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Tempus AI

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