Tempus AI (NASDAQ:TEM) Trading Down 8.8% Following Insider Selling

Shares of Tempus AI, Inc. (NASDAQ:TEM) fell 8.8% during trading on Monday following insider selling activity. The stock traded as low as $43.90 and last traded at $44.79. 4,426,418 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 4,781,867 shares. The stock had previously closed at $49.10.

Specifically, CEO Eric P. Lefkofsky sold 562,345 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $50.93, for a total transaction of $28,640,230.85. Following the sale, the chief executive officer now owns 9,457,283 shares of the company’s stock, valued at approximately $481,659,423.19. This represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nadja West sold 809 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total transaction of $41,347.99. Following the transaction, the director now owns 37,705 shares of the company’s stock, valued at $1,927,102.55. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.15, for a total value of $1,023,000.00. Following the sale, the chief operating officer now owns 924,460 shares in the company, valued at approximately $47,286,129. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

A number of brokerages have weighed in on TEM. Wolfe Research lowered Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Needham & Company LLC upped their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and lifted their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered shares of Tempus AI from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Finally, Bank of America lifted their price objective on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Tempus AI has a consensus rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The stock has a 50 day simple moving average of $54.30 and a 200 day simple moving average of $52.30.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Operose Advisors LLC bought a new stake in Tempus AI in the 4th quarter worth $25,000. First Horizon Advisors Inc. purchased a new position in shares of Tempus AI during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC bought a new position in shares of Tempus AI during the fourth quarter valued at approximately $34,000. Prestige Wealth Management Group LLC lifted its stake in Tempus AI by 910.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after acquiring an additional 965 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in Tempus AI in the fourth quarter valued at $49,000. 24.22% of the stock is currently owned by institutional investors.

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.