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

Shares of Tempus AI, Inc. (NASDAQ:TEM) were down 8.8% during trading on Monday after an insider sold shares in the company. The stock traded as low as $43.90 and last traded at $44.79. Approximately 4,426,418 shares were traded during trading, a decline of 7% from the average daily volume of 4,781,867 shares. The stock had previously closed at $49.10.

Specifically, CEO Eric P. Lefkofsky sold 562,345 shares of the 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 in the company, valued at approximately $481,659,423.19. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nadja West sold 809 shares of Tempus AI stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total transaction of $41,347.99. Following the sale, the director now owns 37,705 shares in the company, valued at approximately $1,927,102.55. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, COO Ryan Fukushima sold 20,000 shares of the business’s stock in a transaction on 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 sale, the chief operating officer now owns 924,460 shares of the company’s stock, valued at $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 is available through the SEC website.

Analyst Upgrades and Downgrades

TEM has been the subject of a number of analyst reports. William Blair restated a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Bank of America boosted their price objective on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Piper Sandler reduced their price objective on shares of Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Wolfe Research lowered shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Tempus AI currently has an average rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The company has a 50 day simple moving average of $54.30 and a 200-day simple moving average of $52.30.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company’s stock worth $80,000 after purchasing an additional 278 shares during the period. First Horizon Advisors Inc. bought a new position in Tempus AI in the 3rd quarter worth approximately $30,000. Geode Capital Management LLC grew its stake in Tempus AI by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company’s stock valued at $7,537,000 after buying an additional 539 shares in the last quarter. Operose Advisors LLC bought a new stake in Tempus AI during the 4th quarter valued at $25,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of 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. 24.22% of the stock is currently owned by 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.