Tempus AI (NASDAQ:TEM) Shares Down 10.6%

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) traded down 10.6% on Tuesday . The company traded as low as $53.00 and last traded at $53.07. 757,889 shares were traded during trading, a decline of 38% from the average session volume of 1,226,185 shares. The stock had previously closed at $59.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Tempus AI from $42.00 to $47.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Longbow Research initiated coverage on Tempus AI in a report on Tuesday, July 9th. They issued a "buy" rating and a $48.00 price objective on the stock. 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 on the stock. TD Cowen initiated coverage on Tempus AI in a research note on Tuesday, July 9th. They issued a "buy" rating and a $50.00 target price on the stock. Finally, Piper Sandler initiated coverage on Tempus AI in a research note on Monday, August 12th. They issued a "neutral" rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.56.

Tempus AI Stock Down 12.3 %

The stock's 50-day moving average is $44.16.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($6.77) EPS for the quarter, missing analysts' consensus estimates of ($4.41) by ($2.36). The firm had revenue of $165.97 million during the quarter, compared to analysts' expectations of $159.10 million. Equities analysts predict that Tempus AI, Inc. will post -6.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEM. Sandia Investment Management LP purchased a new position in shares of Tempus AI in the 2nd quarter worth $136,000. Northwestern University purchased a new position in Tempus AI in the second quarter worth about $491,000. Squarepoint Ops LLC bought a new stake in shares of Tempus AI during the 2nd quarter valued at about $633,000. WINTON GROUP Ltd bought a new stake in shares of Tempus AI during the 2nd quarter valued at about $634,000. Finally, Scientech Research LLC bought a new stake in shares of Tempus AI during 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.