Massachusetts Financial Services Co. MA Invests $28.25 Million in Tempus AI, Inc. (NASDAQ:TEM)

Massachusetts Financial Services Co. MA acquired a new stake in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 807,036 shares of the company's stock, valued at approximately $28,246,000. Massachusetts Financial Services Co. MA owned about 0.49% of Tempus AI at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in shares of Tempus AI during the second quarter valued at approximately $634,000. Allen Operations LLC purchased a new position in shares of Tempus AI in the second quarter valued at $3,831,000. Revolution Growth Management Company Inc. purchased a new position in shares of Tempus AI in the second quarter valued at $128,133,000. Federated Hermes Inc. purchased a new position in shares of Tempus AI in the second quarter valued at $19,886,000. Finally, Pier Capital LLC purchased a new position in shares of Tempus AI in the second quarter valued at $2,301,000.

Tempus AI Stock Up 8.7 %

Shares of TEM traded up $4.34 during midday trading on Friday, reaching $54.43. The company had a trading volume of 1,691,898 shares, compared to its average volume of 1,236,331. Tempus AI, Inc. has a 1-year low of $22.89 and a 1-year high of $77.00. The business has a 50 day simple moving average of $48.37.

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 analysts' consensus estimates of ($4.41) by ($2.36). The firm had revenue of $165.97 million during the quarter, compared to analyst estimates of $159.10 million. As a group, equities analysts anticipate that Tempus AI, Inc. will post -6.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on TEM. Morgan Stanley began coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set an "overweight" rating and a $44.00 price objective for the company. Piper Sandler began coverage on shares of Tempus AI in a research note on Monday, August 12th. They set a "neutral" rating and a $40.00 price objective for the company. William Blair began coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set an "outperform" rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of Tempus AI from $42.00 to $47.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus initiated coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a "buy" rating and a $45.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $45.56.

Tempus AI 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.