Tempus AI (NASDAQ:TEM) Sees Strong Trading Volume – Time to Buy?

Tempus AI, Inc. (NASDAQ:TEM) shares saw strong trading volume on Tuesday . 1,217,508 shares changed hands during trading, an increase of 11% from the previous session’s volume of 1,095,627 shares.The stock last traded at $40.87 and had previously closed at $49.50.

Analysts Set New Price Targets

Several analysts have recently commented on TEM shares. Loop Capital increased their price objective on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Piper Sandler started coverage on Tempus AI in a research note on Monday, August 12th. They set a “neutral” rating and a $40.00 price objective on the stock. William Blair began coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. boosted their target price on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Bank of America lowered shares of Tempus AI from a “buy” rating to a “neutral” rating and raised their price target for the stock from $45.00 to $60.00 in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Tempus AI Stock Down 8.9 %

The company has a quick ratio of 3.52, a current ratio of 3.70 and a debt-to-equity ratio of 4.50. The business has a 50 day moving average price of $50.47.

Tempus AI (NASDAQ:TEM) last released 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 business had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.10 million. On average, equities analysts predict that Tempus AI, Inc. will post -6.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently modified their holdings of TEM. Dakota Wealth Management bought a new stake in Tempus AI in the third quarter worth $1,185,000. Davidson Kempner Capital Management LP bought a new stake in shares of Tempus AI in the 2nd quarter valued at about $2,271,000. NEA Management Company LLC purchased a new stake in Tempus AI during the 2nd quarter valued at about $160,048,000. Exchange Traded Concepts LLC purchased a new stake in Tempus AI during the 3rd quarter valued at about $3,458,000. Finally, Sculptor Capital LP bought a new position in Tempus AI during the 2nd quarter worth approximately $5,085,000.

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.