NEA Management Company LLC Invests $160.05 Million in Tempus AI, Inc. (NASDAQ:TEM)

NEA Management Company LLC acquired a new stake in Tempus AI, Inc. (NASDAQ:TEM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,572,810 shares of the company's stock, valued at approximately $160,048,000. Tempus AI comprises approximately 12.0% of NEA Management Company LLC's investment portfolio, making the stock its 2nd largest position. NEA Management Company LLC owned 2.77% of Tempus AI at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Revolution Growth Management Company Inc. acquired a new stake in Tempus AI during the 2nd quarter worth approximately $128,133,000. Alphabet Inc. bought a new stake in shares of Tempus AI in the second quarter valued at about $54,289,000. Lingotto Investment Management LLP acquired a new position in shares of Tempus AI in the second quarter valued at about $32,685,000. Massachusetts Financial Services Co. MA bought a new position in Tempus AI during the second quarter worth about $28,246,000. Finally, Federated Hermes Inc. acquired a new stake in Tempus AI in the 2nd quarter worth about $19,886,000.

Analyst Ratings Changes

TEM has been the topic of a number of analyst reports. Longbow Research initiated coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They set a "buy" rating and a $48.00 target price on the stock. Stifel Nicolaus assumed 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. TD Cowen assumed coverage on Tempus AI in a research report on Tuesday, July 9th. They set a "buy" rating and a $50.00 target price for the company. William Blair initiated coverage on Tempus AI in a research report on Tuesday, July 9th. They issued an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Tempus AI from $42.00 to $47.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.56.

Tempus AI Stock Down 4.0 %

Tempus AI stock traded down $2.07 during midday trading on Wednesday, reaching $49.15. The company's stock had a trading volume of 957,652 shares, compared to its average volume of 1,230,139. Tempus AI, Inc. has a 52 week low of $22.89 and a 52 week high of $77.00. The firm's 50-day moving average is $48.96.

Tempus AI (NASDAQ:TEM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($6.77) earnings per share (EPS) 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 the consensus estimate of $159.10 million. As a group, analysts expect that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

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.