Tempus AI (NASDAQ:TEM) Stock Price Down 3.4% – Here’s What Happened

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was down 3.4% on Friday . The stock traded as low as $44.49 and last traded at $44.64. Approximately 128,798 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,122,659 shares. The stock had previously closed at $46.21.

Analyst Upgrades and Downgrades

TEM has been the topic of several analyst reports. Longbow Research began coverage on Tempus AI in a research report on Tuesday, July 9th. They set a “buy” rating and a $48.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 price target on shares of Tempus AI in a report on Wednesday, August 7th. Stifel Nicolaus began coverage on Tempus AI in a report on Tuesday, July 9th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Piper Sandler began 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.67.

Tempus AI Stock Down 2.7 %

The company’s fifty day moving average is $52.69. The company has a current ratio of 3.70, a quick ratio of 3.52 and a debt-to-equity ratio of 4.50.

Tempus AI (NASDAQ:TEM) last posted its quarterly 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 business had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.10 million. Research analysts expect that Tempus AI, Inc. will post -6.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Tempus AI

Large investors have recently modified their holdings of the company. Dakota Wealth Management purchased a new position in shares of Tempus AI in the 3rd quarter valued at $1,185,000. International Assets Investment Management LLC increased its position in Tempus AI by 141,400.0% during the third quarter. International Assets Investment Management LLC now owns 70,750 shares of the company’s stock worth $4,004,000 after buying an additional 70,700 shares during the period. Clarus Group Inc. purchased a new stake in Tempus AI in the third quarter valued at approximately $283,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Tempus AI during the third quarter worth approximately $258,000. Finally, Renaissance Capital LLC acquired a new position in shares of Tempus AI in the 3rd quarter valued at $633,000.

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.