Tempus AI, Inc. (NASDAQ:TEM) Short Interest Down 16.3% in September

Tempus AI, Inc. (NASDAQ:TEM) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 2,970,000 shares, a decline of 16.3% from the August 31st total of 3,550,000 shares. Based on an average trading volume of 1,100,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 5.8% of the company’s stock are short sold.

Tempus AI Price Performance

NASDAQ:TEM opened at $53.84 on Friday. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $77.00. The company’s 50-day moving average price is $49.63.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($6.77) earnings per share for the quarter, missing the consensus estimate of ($4.41) by ($2.36). The company had revenue of $165.97 million for the quarter, compared to the consensus estimate of $159.10 million. Equities research analysts expect that Tempus AI will post -6.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TEM has been the subject of several research reports. Morgan Stanley began coverage on Tempus AI in a research report on Tuesday, July 9th. They issued an “overweight” rating and a $44.00 target price for the company. JPMorgan Chase & Co. raised their price objective on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Loop Capital initiated coverage on shares of Tempus AI in a report on Tuesday, July 9th. They set a “buy” rating and a $48.00 target price on the stock. Longbow Research initiated coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued a “buy” rating and a $48.00 price target for the company. Finally, TD Cowen began 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.56.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EFG Asset Management North America Corp. bought a new stake in Tempus AI in the 2nd quarter worth 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 position in Tempus AI during the second quarter valued at approximately $54,289,000. Finally, Pier Capital LLC purchased a new stake in Tempus AI in the second quarter worth approximately $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.