Tempus AI (NASDAQ:TEM) Shares Gap Down After Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $85.71, but opened at $79.99. Tempus AI shares last traded at $74.08, with a volume of 7,986,420 shares changing hands.

Specifically, CFO James William Rogers sold 31,780 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $82.33, for a total value of $2,616,447.40. Following the transaction, the chief financial officer now owns 189,320 shares in the company, valued at approximately $15,586,715.60. This represents a 14.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Erik Phelps sold 61,582 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $82.36, for a total transaction of $5,071,893.52. Following the transaction, the executive vice president now owns 153,080 shares in the company, valued at approximately $12,607,668.80. This trade represents a 28.69 % decrease in their position. The disclosure for this sale can be found here. In related news, CAO Ryan M. Bartolucci sold 818 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $81.87, for a total transaction of $66,969.66. Following the transaction, the chief accounting officer now owns 46,182 shares in the company, valued at $3,780,920.34. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Loop Capital lowered their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Guggenheim started coverage on shares of Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 target price on shares of Tempus AI in a report on Tuesday, January 14th. Wolfe Research started coverage on shares of Tempus AI in a report on Friday, December 13th. They set an “outperform” rating and a $60.00 target price for the company. Finally, 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 report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.55.

Tempus AI Price Performance

The stock’s 50 day moving average price is $50.29 and its 200-day moving average price is $51.65. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in shares of Tempus AI by 13.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock valued at $80,000 after purchasing an additional 278 shares during the last quarter. First Horizon Advisors Inc. bought a new position in shares of Tempus AI during the 3rd quarter valued at about $30,000. Geode Capital Management LLC boosted its holdings in shares of Tempus AI by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after purchasing an additional 539 shares during the last quarter. Operose Advisors LLC bought a new position in shares of Tempus AI in the 4th quarter valued at about $25,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after acquiring an additional 965 shares during the last quarter. 24.22% of the stock is owned by hedge funds and other institutional investors.

Tempus AI Company Profile

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.