Tempus AI (NASDAQ:TEM) Trading 6.4% Higher - Here's What Happened

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shot up 6.4% during trading on Tuesday . The company traded as high as $46.22 and last traded at $46.11. 589,929 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 1,121,543 shares. The stock had previously closed at $43.34.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TEM. Piper Sandler initiated coverage on shares of Tempus AI in a research report on Monday, August 12th. They issued a "neutral" rating and a $40.00 price target for the company. Longbow Research assumed coverage on Tempus AI in a research report on Tuesday, July 9th. They set a "buy" rating and a $48.00 price target on the stock. Stifel Nicolaus started coverage on Tempus AI in a report on Tuesday, July 9th. They issued a "buy" rating and a $45.00 price objective for the company. Morgan Stanley assumed coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued an "overweight" rating and a $44.00 target price on the stock. Finally, TD Cowen started coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a "buy" rating and a $50.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.67.

Tempus AI Stock Performance

The stock has a 50-day simple moving average of $51.99. The company has a debt-to-equity ratio of 4.50, a quick ratio of 3.52 and a current ratio of 3.70.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($6.77) EPS 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. As a group, sell-side analysts expect that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sandia Investment Management LP purchased a new position in shares of Tempus AI in the 2nd quarter valued at about $136,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Tempus AI in the third quarter valued at about $258,000. Clarus Group Inc. acquired a new stake in shares of Tempus AI during the 3rd quarter valued at approximately $283,000. Janney Capital Management LLC purchased a new stake in shares of Tempus AI during the 3rd quarter worth approximately $385,000. Finally, Northwestern University acquired a new stake in shares of Tempus AI in the 2nd 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.