Short Interest in Tempus AI, Inc. (NASDAQ:TEM) Drops By 16.3%

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

Institutional Investors Weigh In On Tempus AI

Several hedge funds have recently bought and sold shares of TEM. Sandia Investment Management LP bought a new stake in Tempus AI during the second quarter worth about $136,000. Northwestern University bought a new stake in Tempus AI in the 2nd quarter worth approximately $491,000. Squarepoint Ops LLC purchased a new stake in Tempus AI in the second quarter worth approximately $633,000. WINTON GROUP Ltd bought a new position in Tempus AI during the second quarter valued at approximately $634,000. Finally, Scientech Research LLC bought a new position in Tempus AI during the second quarter valued at approximately $756,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TEM shares. JPMorgan Chase & Co. upped their price objective on shares of Tempus AI from $42.00 to $47.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Morgan Stanley assumed coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued an "overweight" rating and a $44.00 price objective for the company. William Blair began coverage on shares of Tempus AI in a report on Tuesday, July 9th. They set an "outperform" rating on the stock. Stifel Nicolaus assumed coverage on Tempus AI in a report on Tuesday, July 9th. They issued a "buy" rating and a $45.00 price target for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $47.00 price target on shares of Tempus AI in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.56.

Tempus AI Stock Performance

Shares of TEM stock traded up $1.97 on Friday, reaching $53.84. The company's stock had a trading volume of 755,580 shares, compared to its average volume of 1,217,392. Tempus AI has a 12-month low of $22.89 and a 12-month high of $77.00. The company has a 50 day simple moving average of $49.63.

Tempus AI (NASDAQ:TEM - Get Free Report) last released 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 business had revenue of $165.97 million during the quarter, compared to analysts' expectations of $159.10 million. On average, sell-side analysts forecast that Tempus AI will post -6.51 EPS for the current fiscal year.

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.