Tempus AI (NASDAQ:TEM) Shares Down 5.8%

Tempus AI, Inc. (NASDAQ:TEM)’s stock price fell 5.8% on Tuesday . The stock traded as low as $43.56 and last traded at $44.53. 342,308 shares were traded during trading, a decline of 72% from the average session volume of 1,214,809 shares. The stock had previously closed at $47.27.

Wall Street Analysts Forecast Growth

TEM has been the topic of a number of recent research reports. 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 on the stock. TD Cowen assumed coverage on shares of Tempus AI in a report on Tuesday, July 9th. They set a “buy” rating and a $50.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $47.00 price objective on shares of Tempus AI in a research note on Wednesday, August 7th. Piper Sandler assumed coverage on Tempus AI in a research note on Monday, August 12th. They set a “neutral” rating and a $40.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.56.

Tempus AI Stock Performance

The stock has a 50-day moving average of $45.95.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($6.77) EPS for the quarter, missing analysts’ consensus estimates of ($4.41) by ($2.36). The company had revenue of $165.97 million during the quarter, compared to the consensus estimate of $159.10 million. As a group, equities research analysts forecast that Tempus AI, Inc. will post -6.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Tempus AI

Institutional investors have recently added to or reduced their stakes in the business. Sandia Investment Management LP bought a new stake in Tempus AI during the second quarter valued at $136,000. Northwestern University bought a new stake in shares of Tempus AI in the 2nd quarter valued at $491,000. Squarepoint Ops LLC acquired a new position in shares of Tempus AI during the 2nd quarter valued at $633,000. WINTON GROUP Ltd acquired a new stake in Tempus AI in the second quarter worth $634,000. Finally, Scientech Research LLC bought a new stake in Tempus AI in the second quarter valued at $756,000.

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.