Erik Phelps Sells 61,582 Shares of Tempus AI, Inc. (NASDAQ:TEM) Stock

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) EVP Erik Phelps sold 61,582 shares of the business's 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 completion of the sale, the executive vice president now owns 153,080 shares of the company's stock, valued at approximately $12,607,668.80. The trade was a 28.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Erik Phelps also recently made the following trade(s):

• On Wednesday, February 5th, Erik Phelps sold 5,934 shares of Tempus AI stock. The stock was sold at an average price of $67.57, for a total value of $400,960.38.

Tempus AI Stock Performance

Shares of TEM stock traded down $8.57 on Friday, hitting $68.15. The stock had a trading volume of 14,356,143 shares, compared to its average volume of 14,342,920. The stock's 50 day moving average is $49.75 and its 200-day moving average is $51.44. Tempus AI, Inc. has a 52-week low of $22.89 and a 52-week high of $91.45. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Analyst Ratings Changes

A number of research firms have issued reports on TEM. Loop Capital lowered their price target on Tempus AI from $57.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. TD Cowen reiterated a "buy" rating and set a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Piper Sandler reissued a "neutral" rating and set a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price target on shares of Tempus AI in a research report on Tuesday, January 14th. Finally, Wolfe Research began coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an "outperform" rating and a $60.00 price objective for the company. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $58.55.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its holdings in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company's stock valued at $186,343,000 after purchasing an additional 3,141,487 shares during the last quarter. NEA Management Company LLC raised its position in shares of Tempus AI by 17.8% in the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company's stock valued at $304,846,000 after purchasing an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Tempus AI by 166.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company's stock valued at $109,352,000 after buying an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company's stock worth $109,352,000 after buying an additional 2,021,394 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after buying an additional 1,950,862 shares during the last quarter. 24.22% of the stock is owned by hedge funds and other 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.