Tempus AI (NASDAQ:TEM) Stock Price Down 5.7% on Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) shares traded down 5.7% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $33.42 and last traded at $33.53. 1,226,691 shares were traded during mid-day trading, a decline of 22% from the average session volume of 1,575,843 shares. The stock had previously closed at $35.54.

Specifically, CEO Eric P. Lefkofsky sold 187,655 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total transaction of $7,044,568.70. Following the sale, the chief executive officer now owns 9,557,283 shares in the company, valued at approximately $358,780,403.82. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ryan Fukushima sold 3,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $40.23, for a total value of $140,805.00. Following the completion of the transaction, the chief operating officer now owns 1,003,707 shares of the company’s stock, valued at approximately $40,379,132.61. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, EVP Andrew Polovin sold 1,130 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $40.23, for a total value of $45,459.90. Following the transaction, the executive vice president now owns 244,955 shares in the company, valued at approximately $9,854,539.65. This represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wolfe Research began coverage on Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective for the company. Guggenheim began coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price target for the company. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and raised their price objective for the stock from $45.00 to $65.00 in a research note on Monday, November 11th. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Finally, Loop Capital increased 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Price Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The company’s 50-day moving average is $51.44.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds have recently modified their holdings of the business. NEA Management Company LLC boosted its holdings in shares of Tempus AI by 17.8% during the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after purchasing an additional 813,169 shares during the last quarter. Novo Holdings A S purchased a new position in shares of Tempus AI during the 2nd quarter worth $142,605,000. Revolution Growth Management Company Inc. purchased a new stake in shares of Tempus AI in the second quarter valued at about $128,133,000. ARK Investment Management LLC increased its position in Tempus AI by 355.0% during the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the last quarter. Finally, Alphabet Inc. purchased a new position in Tempus AI during the second quarter worth about $54,289,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.