Insider Selling: Tempus AI, Inc. (NASDAQ:TEM) CEO Sells 476,209 Shares of Stock

Tempus AI, Inc. (NASDAQ:TEM) CEO Eric P. Lefkofsky sold 476,209 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $49.84, for a total transaction of $23,734,256.56. Following the completion of the transaction, the chief executive officer now directly owns 6,502,643 shares in the company, valued at approximately $324,091,727.12. This represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Tempus AI Stock Performance

Shares of NASDAQ:TEM opened at $51.40 on Friday. Tempus AI, Inc. has a fifty-two week low of $22.89 and a fifty-two week high of $79.49. The firm’s 50 day moving average price is $44.36 and its 200 day moving average price is $47.59. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently modified their holdings of TEM. NEA Management Company LLC increased its holdings in Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after buying an additional 813,169 shares during the last quarter. Novo Holdings A S purchased a new position in shares of Tempus AI in the 2nd quarter valued at about $142,605,000. ARK Investment Management LLC raised its position in shares of Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after acquiring an additional 1,855,459 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after purchasing an additional 1,145,698 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Tempus AI by 1.0% in the third quarter. Franklin Resources Inc. now owns 811,311 shares of the company’s stock valued at $45,920,000 after purchasing an additional 8,387 shares during the last quarter. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $56.00 price target on shares of Tempus AI in a report on Tuesday, January 14th. Piper Sandler reissued a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Bank of America upped their target price on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Wolfe Research started coverage on shares of Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target on the stock. Finally, Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.36.

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.