Tempus AI (NASDAQ:TEM) Shares Down 3% on Insider Selling

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) shares fell 3% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $46.76 and last traded at $47.40. 3,575,738 shares were traded during trading, a decline of 25% from the average session volume of 4,750,433 shares. The stock had previously closed at $48.86.

Specifically, CEO Eric P. Lefkofsky sold 562,345 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $50.93, for a total value of $28,640,230.85. Following the completion of the transaction, the chief executive officer now owns 9,457,283 shares in the company, valued at approximately $481,659,423.19. This represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nadja West sold 809 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total transaction of $41,347.99. Following the completion of the transaction, the director now owns 37,705 shares of the company's stock, valued at approximately $1,927,102.55. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.15, for a total value of $1,023,000.00. Following the completion of the transaction, the chief operating officer now owns 924,460 shares in the company, valued at approximately $47,286,129. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus cut shares of Tempus AI from a "buy" rating to a "hold" rating and upped their target price for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Needham & Company LLC increased their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Wolfe Research cut shares of Tempus AI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 26th. Loop Capital decreased their price objective on shares of Tempus AI from $57.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut shares of Tempus AI from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $50.00 to $55.00 in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.18.

Tempus AI Price Performance

The firm has a 50 day moving average of $54.02 and a 200-day moving average of $52.54. 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 Investors Weigh In On Tempus AI

Several hedge funds have recently bought and sold shares of TEM. Operose Advisors LLC purchased a new stake in Tempus AI in the 4th quarter worth about $25,000. First Horizon Advisors Inc. acquired a new position in Tempus AI in the 3rd quarter worth about $30,000. Farther Finance Advisors LLC acquired a new position in Tempus AI in the 4th quarter worth about $34,000. Prestige Wealth Management Group LLC increased its position in Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after purchasing an additional 965 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in Tempus AI in the 4th quarter worth about $49,000. 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.