Tempus AI (NASDAQ:TEM) Shares Gap Up to $50.19

Tempus AI, Inc. (NASDAQ:TEM) gapped up before the market opened on Monday . The stock had previously closed at $50.19, but opened at $51.94. Tempus AI shares last traded at $48.15, with a volume of 176,794 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TEM shares. JPMorgan Chase & Co. raised their target price on shares of Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Morgan Stanley initiated coverage on Tempus AI in a report on Tuesday, July 9th. They set an “overweight” rating and a $44.00 price objective for the company. Stifel Nicolaus started coverage on Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $45.00 price target for the company. Bank of America started coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They set a “buy” rating and a $41.00 target price for the company. Finally, Loop Capital assumed coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $48.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.56.

Tempus AI Stock Performance

The business has a 50 day simple 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 analysts’ expectations of $159.10 million. As a group, analysts predict that Tempus AI, Inc. will post -6.51 earnings per share for the current year.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sandia Investment Management LP bought a new stake in Tempus AI in the second quarter valued at about $136,000. Northwestern University acquired a new stake in shares of Tempus AI during the 2nd quarter valued at approximately $491,000. Squarepoint Ops LLC acquired a new position in Tempus AI in the second quarter worth $633,000. WINTON GROUP Ltd acquired a new stake in shares of Tempus AI during the second quarter worth $634,000. Finally, Scientech Research LLC acquired a new stake in shares of Tempus AI during the second quarter worth $756,000.

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.