Renaissance Capital LLC Makes New $633,000 Investment in Tempus AI, Inc. (NASDAQ:TEM)

Renaissance Capital LLC bought a new position in shares of Tempus AI, Inc. (NASDAQ:TEM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,188 shares of the company’s stock, valued at approximately $633,000.

Several other institutional investors have also modified their holdings of TEM. NEA Management Company LLC acquired a new stake in shares of Tempus AI during the second quarter worth about $160,048,000. Novo Holdings A S acquired a new position in shares of Tempus AI in the second quarter valued at approximately $142,605,000. Revolution Growth Management Company Inc. purchased a new stake in shares of Tempus AI during the second quarter worth approximately $128,133,000. Alphabet Inc. acquired a new stake in shares of Tempus AI during the second quarter worth $54,289,000. Finally, Lingotto Investment Management LLP acquired a new position in Tempus AI in the 2nd quarter valued at $32,685,000.

Analyst Upgrades and Downgrades

TEM has been the subject of several recent analyst reports. William Blair initiated coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued an “outperform” rating for the company. Piper Sandler started coverage on Tempus AI in a report on Monday, August 12th. They issued a “neutral” rating and a $40.00 target price for the company. Loop Capital upped their price target on shares of Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen initiated coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They set a “buy” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Tempus AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Tempus AI Trading Down 8.1 %

Shares of NASDAQ TEM opened at $46.63 on Wednesday. The business’s 50-day moving average price is $51.67. 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, Inc. has a 12 month low of $22.89 and a 12 month high of $77.00.

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

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.