Tempus AI (NASDAQ:TEM) Trading Down 2.7% on Insider Selling

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) dropped 2.7% during trading on Thursday following insider selling activity. The company traded as low as $48.52 and last traded at $51.65. Approximately 4,347,934 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 4,727,333 shares. The stock had previously closed at $53.06.

Specifically, Director Nadja West sold 809 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total value of $41,347.99. Following the transaction, the director now owns 37,705 shares of the company's stock, valued at $1,927,102.55. This represents a 2.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Ryan Fukushima sold 20,000 shares of Tempus AI stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.15, for a total transaction of $1,023,000.00. Following the sale, the chief operating officer now directly owns 924,460 shares of the company's stock, valued at $47,286,129. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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Wall Street Analyst Weigh In

A number of research firms have weighed in on TEM. Wolfe Research downgraded Tempus AI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Bank of America increased their price objective on Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Stifel Nicolaus downgraded Tempus AI from a "buy" rating to a "hold" rating and boosted their target price for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Piper Sandler reduced their price target on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Guggenheim restated a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.18.

Tempus AI Trading Up 0.5 %

The business has a fifty day moving average of $54.02 and a 200-day moving average of $52.54. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Hedge Funds Weigh In On Tempus AI

Several hedge funds have recently made changes to their positions in TEM. Operose Advisors LLC bought a new position in Tempus AI in the 4th quarter worth $25,000. First Horizon Advisors Inc. bought a new position in Tempus AI in the third quarter worth about $30,000. Farther Finance Advisors LLC purchased a new stake in Tempus AI in the fourth quarter worth about $34,000. Prestige Wealth Management Group LLC grew its holdings in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company's stock worth $36,000 after acquiring an additional 965 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in shares of Tempus AI during the 4th quarter worth approximately $49,000. 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.