Tempus AI (NASDAQ:TEM) Stock Price Down 2.5% Following Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) traded down 2.5% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $66.29 and last traded at $67.48. 8,477,029 shares were traded during mid-day trading, a decline of 24% from the average session volume of 11,188,259 shares. The stock had previously closed at $69.18.

Specifically, COO Ryan Fukushima sold 20,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $62.50, for a total value of $1,250,000.00. Following the transaction, the chief operating officer now directly owns 962,442 shares of the company’s stock, valued at approximately $60,152,625. This trade represents a 2.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric P. Lefkofsky sold 82,056 shares of Tempus AI stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $58.21, for a total transaction of $4,776,479.76. Following the transaction, the chief executive officer now directly owns 5,532,987 shares in the company, valued at $322,075,173.27. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In related news, CEO Eric P. Lefkofsky sold 79,118 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $53.86, for a total transaction of $4,261,295.48. Following the completion of the sale, the chief executive officer now owns 5,692,669 shares in the company, valued at approximately $306,607,152.34. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEM. Wolfe Research began coverage on shares of Tempus AI in a report on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target on the stock. Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and upped their price target for the company from $45.00 to $65.00 in a report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 target price on shares of Tempus AI in a research note on Tuesday, January 14th. Bank of America boosted their price target on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Piper Sandler restated a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Tempus AI has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Trading Up 6.1 %

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 fifty day moving average price of $44.36 and a 200-day moving average price of $48.84.

Hedge Funds Weigh In On Tempus AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC bought a new stake in shares of Tempus AI in the 3rd quarter valued at about $1,367,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tempus AI during the fourth quarter valued at approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after acquiring an additional 1,145,698 shares in the last quarter. Captrust Financial Advisors purchased a new position in Tempus AI in the third quarter worth $2,726,000. Finally, Sigma Planning Corp acquired a new position in shares of Tempus AI during the third quarter worth $1,323,000. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.