Tempus AI (NASDAQ:TEM) Sees Unusually-High Trading Volume – Here’s Why

Shares of Tempus AI, Inc. (NASDAQ:TEM) saw unusually-high trading volume on Tuesday . Approximately 1,217,508 shares traded hands during mid-day 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEM shares. Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $45.00 to $60.00 in a report on Wednesday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $47.00 price target on shares of Tempus AI in a research note on Wednesday, August 7th. Loop Capital lifted their price target on shares of Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on Tempus AI from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Piper Sandler began coverage on Tempus AI in a research note on Monday, August 12th. They issued a “neutral” rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and a consensus target price of $48.67.

Tempus AI Trading Up 28.0 %

The business’s fifty day moving average price is $49.95. 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 (NASDAQ:TEM) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($6.77) earnings per share for the quarter, missing the consensus estimate of ($4.41) by ($2.36). The firm had revenue of $165.97 million for the quarter, compared to analysts’ expectations of $159.10 million. As a group, equities research analysts expect that Tempus AI, Inc. will post -6.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tempus AI

Hedge funds and other institutional investors have recently modified their holdings of the company. Vestor Capital LLC bought a new position in shares of Tempus AI during the 3rd quarter valued at $153,000. Sandia Investment Management LP purchased a new stake in Tempus AI during the second quarter valued at about $136,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Tempus AI during the third quarter valued at about $258,000. Clarus Group Inc. purchased a new position in shares of Tempus AI in the third quarter worth about $283,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Tempus AI in the 3rd quarter valued at about $306,000.

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.