Tempus AI (NASDAQ:TEM) Shares Gap Up to $64.95

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $64.95, but opened at $66.90. Tempus AI shares last traded at $61.97, with a volume of 127,708 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Tempus AI from $42.00 to $47.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Morgan Stanley initiated coverage on Tempus AI in a report on Tuesday, July 9th. They issued an "overweight" rating and a $44.00 price objective for the company. Bank of America initiated coverage on Tempus AI in a report on Tuesday, July 9th. They issued a "buy" rating and a $41.00 price objective for the company. Piper Sandler initiated 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $47.00 price objective on shares of Tempus AI in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.56.

Tempus AI Stock Down 6.8 %

The company's fifty day moving average is $40.37.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted 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 firm had revenue of $165.97 million during the quarter, compared to the consensus estimate of $159.10 million. On average, sell-side analysts predict that Tempus AI, Inc. will post -6.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Tempus AI

Several institutional investors have recently made changes to their positions in TEM. NEA Management Company LLC acquired a new position in shares of Tempus AI during the second quarter worth approximately $160,048,000. Novo Holdings A S acquired a new position in shares of Tempus AI during the second quarter worth approximately $142,605,000. Revolution Growth Management Company Inc. acquired a new position in shares of Tempus AI during the second quarter worth approximately $128,133,000. Alphabet Inc. acquired a new position in shares of Tempus AI during the second quarter worth approximately $54,289,000. Finally, Lingotto Investment Management LLP acquired a new position in shares of Tempus AI during the second quarter worth approximately $32,685,000.

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.