Tempus AI (NASDAQ:TEM) Trading Down 8.8% After Insider Selling

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report) traded down 8.8% during trading on Monday following insider selling activity. The company traded as low as $43.90 and last traded at $44.79. 4,426,418 shares were traded during trading, a decline of 7% from the average session volume of 4,781,867 shares. The stock had previously closed at $49.10.

Specifically, CEO Eric P. Lefkofsky sold 562,345 shares of Tempus AI stock in a transaction dated Wednesday, March 5th. The stock was 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 directly owns 9,457,283 shares of the company's stock, valued at approximately $481,659,423.19. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nadja West sold 809 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total value of $41,347.99. Following the sale, the director now owns 37,705 shares in the company, valued at approximately $1,927,102.55. The trade was 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 Tempus AI stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.15, for a total value of $1,023,000.00. Following the completion of the sale, the chief operating officer now directly owns 924,460 shares in the company, valued at approximately $47,286,129. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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Analysts Set New Price Targets

Several analysts have recently commented on TEM shares. Guggenheim reaffirmed a "buy" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Bank of America lifted their price target on shares of Tempus AI from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. TD Cowen reiterated a "buy" rating and set a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Piper Sandler reduced their target price on Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. downgraded Tempus AI from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $50.00 to $55.00 in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $61.18.

Tempus AI Price Performance

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The firm has a 50 day moving average price of $54.76 and a 200 day moving average price of $52.03.

Institutional Trading of Tempus AI

Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after buying an additional 278 shares during the last quarter. First Horizon Advisors Inc. bought a new position in shares of Tempus AI in the third quarter valued at approximately $30,000. Geode Capital Management LLC increased its position in shares of Tempus AI by 0.4% during the third quarter. Geode Capital Management LLC now owns 133,171 shares of the company's stock valued at $7,537,000 after acquiring an additional 539 shares during the last quarter. Operose Advisors LLC purchased a new position in Tempus AI in the fourth quarter worth $25,000. Finally, Prestige Wealth Management Group LLC grew its stake 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 valued at $36,000 after purchasing an additional 965 shares during the period. Hedge funds and other institutional investors own 24.22% of the company's stock.

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.