Tempus AI (NASDAQ:TEM) Shares Gap Up – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $51.25, but opened at $52.35. Tempus AI shares last traded at $51.18, with a volume of 151,922 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TEM. Longbow Research started coverage on Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $48.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $47.00 target price on shares of Tempus AI in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $45.00 to $60.00 in a research report on Wednesday. Finally, William Blair started coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.67.

Tempus AI Stock Up 8.1 %

The company has a 50 day moving average of $50.59. The company has a current ratio of 3.70, a quick ratio of 3.52 and a debt-to-equity ratio of 4.50.

Tempus AI (NASDAQ:TEM) last announced 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 company had revenue of $165.97 million during the quarter, compared to analysts’ expectations of $159.10 million. Research analysts anticipate that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

Institutional Investors Weigh In On Tempus AI

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