Short Interest in Tempus AI, Inc. (NASDAQ:TEM) Grows By 25.4%

Tempus AI, Inc. (NASDAQ:TEM) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 3,850,000 shares, an increase of 25.4% from the July 31st total of 3,070,000 shares. Approximately 6.7% of the shares of the company are sold short. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is presently 2.9 days.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors have recently added to or reduced their stakes in TEM. EFG Asset Management North America Corp. acquired a new stake in Tempus AI in the second quarter valued at $1,333,000. Sandia Investment Management LP purchased a new stake in shares of Tempus AI in the second quarter valued at about $136,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Tempus AI in the second quarter valued at about $2,271,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Tempus AI during the 2nd quarter worth approximately $28,246,000. Finally, Lingotto Investment Management LLP acquired a new position in Tempus AI in the 2nd quarter valued at about $32,685,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Bank of America started coverage on Tempus AI in a research note on Tuesday, July 9th. They set a “buy” rating and a $41.00 price target on the stock. Morgan Stanley initiated coverage on Tempus AI in a research note on Tuesday, July 9th. They issued an “overweight” rating and a $44.00 price objective for the company. Piper Sandler initiated coverage on shares of Tempus AI in a research report on Monday, August 12th. They set a “neutral” rating and a $40.00 target price on the stock. Finally, William Blair assumed coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Tempus AI has an average rating of “Moderate Buy” and an average price target of $45.56.

Tempus AI Price Performance

Shares of NASDAQ TEM traded up $1.47 during mid-day trading on Friday, hitting $59.38. 715,263 shares of the company were exchanged, compared to its average volume of 1,235,011. The business’s 50 day moving average is $42.94. Tempus AI has a 1-year low of $22.89 and a 1-year high of $77.00.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings data 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 the consensus estimate of $159.10 million. Analysts anticipate that Tempus AI will post -6.51 earnings per share for the current fiscal year.

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.