Tempus AI (NASDAQ:TEM) Shares Down 5.8%

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares dropped 5.8% on Wednesday . The stock traded as low as $64.20 and last traded at $64.51. Approximately 166,820 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,225,240 shares. The stock had previously closed at $68.47.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $47.00 target price on shares of Tempus AI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Tempus AI from $42.00 to $47.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Bank of America initiated coverage on Tempus AI in a research note on Tuesday, July 9th. They set a "buy" rating and a $41.00 price target on the stock. Piper Sandler initiated coverage on Tempus AI in a research report on Monday, August 12th. They issued a "neutral" rating and a $40.00 price objective for the company. Finally, William Blair began coverage on Tempus AI in a report on Tuesday, July 9th. They set an "outperform" rating for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.56.

Tempus AI Stock Down 13.5 %

The business has a fifty day moving average price of $41.71.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.10 million. As a group, equities analysts forecast that Tempus AI, Inc. will post -6.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky bought a new stake in Tempus AI during the 2nd quarter worth approximately $4,165,000. Novo Holdings A S bought a new stake in shares of Tempus AI during the second quarter worth $142,605,000. Perceptive Advisors LLC acquired a new position in Tempus AI in the 2nd quarter worth $9,625,000. Scientech Research LLC bought a new position in Tempus AI during the 2nd quarter worth about $756,000. Finally, Sculptor Capital LP acquired a new stake in shares of Tempus AI in the 2nd quarter valued at about $5,085,000.

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.