65,741 Shares in Tempus AI, Inc. (NASDAQ:TEM) Acquired by Pier Capital LLC

Pier Capital LLC acquired a new position in shares of Tempus AI, Inc. (NASDAQ:TEM) during the second quarter, Holdings Channel reports. The institutional investor acquired 65,741 shares of the company’s stock, valued at approximately $2,301,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern University acquired a new stake in shares of Tempus AI during the 2nd quarter worth about $491,000. EFG Asset Management North America Corp. purchased a new stake in Tempus AI during the second quarter worth approximately $1,333,000. ARK Investment Management LLC purchased a new stake in Tempus AI during the second quarter worth approximately $18,294,000. Finally, Alphabet Inc. purchased a new stake in Tempus AI during the second quarter worth approximately $54,289,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. William Blair began coverage on Tempus AI in a research note on Tuesday, July 9th. They issued an “outperform” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $47.00 target price on shares of Tempus AI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Piper Sandler initiated coverage on Tempus AI in a research report on Monday, August 12th. They set a “neutral” rating and a $40.00 target price on the stock. Finally, Bank of America assumed coverage on Tempus AI in a research report on Tuesday, July 9th. They set a “buy” rating and a $41.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.56.

Tempus AI Stock Performance

Shares of NASDAQ TEM opened at $45.05 on Wednesday. Tempus AI, Inc. has a 12-month low of $22.89 and a 12-month high of $77.00. The business has a 50 day moving average of $45.95.

Tempus AI (NASDAQ:TEM) last announced its earnings results on Tuesday, August 6th. The company reported ($6.77) earnings per share for the quarter, missing the consensus estimate of ($4.41) by ($2.36). The business had revenue of $165.97 million during the quarter, compared to analysts’ expectations of $159.10 million. On average, research analysts forecast that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

About Tempus AI

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.