Tempus AI, Inc. (NASDAQ:TEM) Sees Large Decline in Short Interest

Tempus AI, Inc. (NASDAQ:TEM) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,970,000 shares, a decrease of 16.3% from the August 31st total of 3,550,000 shares. Currently, 5.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Ratings Changes

Several research firms have recently issued reports on TEM. Stifel Nicolaus initiated coverage on Tempus AI in a research report on Tuesday, July 9th. They set a “buy” rating and a $45.00 target price for the company. Longbow Research started coverage on shares of Tempus AI in a research note on Tuesday, July 9th. They issued a “buy” rating and a $48.00 target price for the company. Loop Capital began coverage on shares of Tempus AI in a research report on Tuesday, July 9th. They set a “buy” rating and a $48.00 price target on the stock. William Blair started coverage on shares of Tempus AI in a report on Tuesday, July 9th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 price objective on shares of Tempus AI in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Tempus AI currently has a consensus rating of “Moderate Buy” and an average price target of $45.56.

Hedge Funds Weigh In On Tempus AI

A number of large investors have recently bought and sold shares of TEM. EFG Asset Management North America Corp. bought a new stake in shares of Tempus AI in the second quarter worth $1,333,000. ARK Investment Management LLC bought a new stake in Tempus AI during the 2nd quarter worth about $18,294,000. Northwestern University acquired a new position in shares of Tempus AI during the 2nd quarter worth about $491,000. Alphabet Inc. bought a new position in shares of Tempus AI in the 2nd quarter valued at about $54,289,000. Finally, Pier Capital LLC acquired a new stake in shares of Tempus AI in the second quarter valued at about $2,301,000.

Tempus AI Price Performance

Shares of NASDAQ TEM opened at $53.84 on Monday. The business has a fifty day moving average of $49.63. Tempus AI has a 1-year low of $22.89 and a 1-year high of $77.00.

Tempus AI (NASDAQ:TEM) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $159.10 million. Sell-side analysts expect that Tempus AI will post -6.51 earnings per share for the current year.

About Tempus AI

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.