Tempus AI (NASDAQ:TEM) Shares Up 18.2% – Here’s Why

Tempus AI, Inc. (NASDAQ:TEM) traded up 18.2% during mid-day trading on Wednesday . The company traded as high as $53.00 and last traded at $52.62. 1,639,944 shares were traded during trading, an increase of 45% from the average session volume of 1,127,607 shares. The stock had previously closed at $44.50.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Longbow Research assumed coverage on Tempus AI in a report on Tuesday, July 9th. They set a “buy” rating and a $48.00 price objective for the company. Bank of America cut Tempus AI from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $45.00 to $60.00 in a report on Wednesday, October 2nd. William Blair began coverage on Tempus AI in a report on Tuesday, July 9th. They set an “outperform” rating for the company. Morgan Stanley began coverage on Tempus AI in a research note on Tuesday, July 9th. They issued an “overweight” rating and a $44.00 target price for the company. Finally, TD Cowen began coverage on Tempus AI in a research note on Tuesday, July 9th. They issued a “buy” rating and a $50.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Tempus AI Stock Up 28.0 %

The business has a 50-day moving average price of $49.95. The company has a quick ratio of 3.52, a current ratio of 3.70 and a debt-to-equity ratio of 4.50.

Tempus AI (NASDAQ:TEM) last posted its 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 firm had revenue of $165.97 million during the quarter, compared to the consensus estimate of $159.10 million. Analysts anticipate that Tempus AI, Inc. will post -6.51 EPS for the current year.

Hedge Funds Weigh In On Tempus AI

Several institutional investors have recently modified their holdings of the stock. NEA Management Company LLC bought a new position in shares of Tempus AI during the 2nd quarter valued at about $160,048,000. Novo Holdings A S bought a new stake in Tempus AI in the 2nd quarter valued at approximately $142,605,000. Revolution Growth Management Company Inc. acquired a new position in shares of Tempus AI during the 2nd quarter worth approximately $128,133,000. ARK Investment Management LLC increased its position in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the last quarter. Finally, Alphabet Inc. acquired a new position in shares of Tempus AI during the 2nd quarter worth approximately $54,289,000.

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.