Pier Capital LLC Acquires Shares of 65,741 Tempus AI, Inc. (NASDAQ:TEM)

Pier Capital LLC purchased a new position in Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 65,741 shares of the company's stock, valued at approximately $2,301,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEM. Alphabet Inc. acquired a new position in shares of Tempus AI during the 2nd quarter valued at about $54,289,000. ARK Investment Management LLC acquired a new position in Tempus AI in the second quarter valued at approximately $18,294,000. EFG Asset Management North America Corp. acquired a new stake in shares of Tempus AI in the second quarter valued at approximately $1,333,000. Finally, Northwestern University purchased a new stake in shares of Tempus AI during the second quarter worth approximately $491,000.

Tempus AI Trading Up 3.2 %

Tempus AI stock traded up $1.44 during mid-day trading on Wednesday, reaching $46.49. The company's stock had a trading volume of 1,098,083 shares, compared to its average volume of 1,222,850. Tempus AI, Inc. has a 12-month low of $22.89 and a 12-month high of $77.00. The stock has a fifty day moving average of $45.95.

Tempus AI (NASDAQ:TEM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($6.77) EPS for the quarter, missing the consensus estimate of ($4.41) by ($2.36). The business had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.10 million. On average, equities research analysts forecast that Tempus AI, Inc. will post -6.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TEM shares. Morgan Stanley started coverage on Tempus AI in a research note on Tuesday, July 9th. They issued an "overweight" rating and a $44.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and set a $47.00 price target on shares of Tempus AI in a research report 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 objective for the company. Stifel Nicolaus started coverage on Tempus AI in a research note on Tuesday, July 9th. They issued a "buy" rating and a $45.00 price target for the company. Finally, Longbow Research assumed coverage on Tempus AI in a research note on Tuesday, July 9th. They set a "buy" rating and a $48.00 target price for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $45.56.

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.