Tempus AI (NASDAQ:TEM) Stock Price Down 5.3%

Tempus AI, Inc. (NASDAQ:TEM) shares dropped 5.3% during trading on Tuesday . The stock traded as low as $50.50 and last traded at $51.76. Approximately 231,995 shares were traded during trading, a decline of 81% from the average daily volume of 1,208,012 shares. The stock had previously closed at $54.67.

Analysts Set New Price Targets

Several research analysts recently weighed in on TEM shares. William Blair began coverage on Tempus AI in a research note on Tuesday, July 9th. They set an “outperform” rating on the stock. Bank of America began coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They issued a “buy” rating and a $41.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $47.00 target price on shares of Tempus AI in a research report on Wednesday, August 7th. Longbow Research began coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $48.00 price target for the company. Finally, TD Cowen initiated coverage on shares of Tempus AI in a report on Tuesday, July 9th. They set a “buy” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Tempus AI has a consensus rating of “Moderate Buy” and an average price target of $45.56.

Tempus AI Price Performance

The firm’s fifty day moving average price is $47.21.

Tempus AI (NASDAQ:TEM) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 have recently modified their holdings of the company. Sandia Investment Management LP purchased a new position in shares of Tempus AI during the 2nd quarter valued at approximately $136,000. Northwestern University acquired a new stake in shares of Tempus AI in the second quarter valued at about $491,000. Squarepoint Ops LLC purchased a new stake in shares of Tempus AI during the second quarter worth about $633,000. WINTON GROUP Ltd acquired a new position in shares of Tempus AI during the 2nd quarter worth about $634,000. Finally, Scientech Research LLC purchased a new position in Tempus AI in the 2nd quarter valued at about $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.