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

Tempus AI, Inc. (NASDAQ:TEM)’s stock price gapped down prior to trading 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 dated Tuesday, February 18th. The shares were sold at an average price of $82.33, for a total transaction of $2,616,447.40. Following the completion of the sale, the chief financial officer now owns 189,320 shares of the company’s stock, valued at $15,586,715.60. This represents a 14.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Erik Phelps sold 61,582 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $82.36, for a total transaction of $5,071,893.52. Following the completion of the transaction, the executive vice president now owns 153,080 shares in the company, valued at approximately $12,607,668.80. The trade was a 28.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Tempus AI news, CAO Ryan M. Bartolucci sold 818 shares of the stock in a transaction dated 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 directly owns 46,182 shares in the company, valued at $3,780,920.34. This represents a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TEM shares. Guggenheim started coverage on shares of Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective for the company. TD Cowen restated a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Loop Capital decreased their price target on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $70.00 price objective (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Stock Performance

The business’s 50-day simple moving average is $50.29 and its 200-day simple moving average 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.

Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently modified their holdings of TEM. Operose Advisors LLC bought a new stake in Tempus AI during the fourth quarter worth about $25,000. First Horizon Advisors Inc. bought a new stake in Tempus AI during the third quarter worth about $30,000. Farther Finance Advisors LLC bought a new stake in Tempus AI during the fourth quarter worth about $34,000. Prestige Wealth Management Group LLC boosted its stake in Tempus AI by 910.4% during the fourth 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 in the last quarter. Finally, NewEdge Advisors LLC bought a new stake in Tempus AI during the fourth quarter worth about $49,000. 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.