Tempus AI (NASDAQ:TEM) Stock Price Down 3.6% Following Insider Selling

Shares of Tempus AI, Inc. (NASDAQ:TEM) were down 3.6% on Thursday after an insider sold shares in the company. The company traded as low as $36.72 and last traded at $37.49. Approximately 2,982,685 shares changed hands during trading, a decline of 21% from the average daily volume of 3,784,073 shares. The stock had previously closed at $38.88.

Specifically, COO Ryan Fukushima sold 20,000 shares of Tempus AI stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total value of $792,200.00. Following the completion of the sale, the chief operating officer now owns 982,442 shares of the company’s stock, valued at $38,914,527.62. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Guggenheim initiated coverage on Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Bank of America boosted their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Loop Capital increased their target price on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Wolfe Research began coverage on Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

Tempus AI Stock Performance

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The business has a 50-day moving average price of $48.59 and a two-hundred day moving average price of $46.96.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. purchased a new position in Tempus AI during the 3rd quarter valued at about $30,000. Vestor Capital LLC bought a new stake in shares of Tempus AI during the 3rd quarter worth about $153,000. Stifel Financial Corp bought a new position in shares of Tempus AI in the third quarter valued at approximately $218,000. Sandia Investment Management LP acquired a new position in Tempus AI during the 2nd quarter worth $136,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Tempus AI in the third quarter worth about $258,000. Institutional investors and hedge funds 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.