Tempus AI, Inc. (NASDAQ:TEM – Get Free Report) shares dropped 3.4% on Friday . The stock traded as low as $44.49 and last traded at $44.64. Approximately 128,798 shares were traded during trading, a decline of 89% from the average daily volume of 1,122,659 shares. The stock had previously closed at $46.21.
Wall Street Analysts Forecast Growth
TEM has been the subject of several recent research reports. Morgan Stanley initiated coverage on Tempus AI in a report on Tuesday, July 9th. They set an “overweight” rating and a $44.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Tempus AI in a report on Wednesday, August 7th. TD Cowen assumed coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $50.00 target price for the company. Bank of America lowered shares of Tempus AI from a “buy” rating to a “neutral” rating and raised their price target for the company from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Finally, Piper Sandler began coverage on Tempus AI in a report on Monday, August 12th. They issued a “neutral” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.67.
Check Out Our Latest Analysis on TEM
Tempus AI Stock Performance
Tempus AI (NASDAQ:TEM – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($6.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.41) by ($2.36). The company had revenue of $165.97 million for the quarter, compared to analysts’ expectations of $159.10 million. On average, sell-side analysts expect that Tempus AI, Inc. will post -6.51 earnings per share for the current year.
Hedge Funds Weigh In On Tempus AI
A number of hedge funds have recently modified their holdings of the stock. Sandia Investment Management LP acquired a new position in shares of Tempus AI in the 2nd quarter valued at $136,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Tempus AI during the third quarter valued at about $258,000. Clarus Group Inc. acquired a new position in shares of Tempus AI in the third quarter worth about $283,000. Renaissance Capital LLC acquired a new position in shares of Tempus AI in the third quarter worth about $633,000. Finally, Northwestern University purchased a new position in shares of Tempus AI in the second quarter worth approximately $491,000.
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.
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