Tempus AI (NASDAQ:TEM) Trading Down 4.4% Following Insider Selling

Shares of Tempus AI, Inc. (NASDAQ:TEM) dropped 4.4% on Friday following insider selling activity. The stock traded as low as $71.50 and last traded at $73.34. Approximately 5,496,515 shares changed hands during trading, a decline of 61% from the average daily volume of 14,108,693 shares. The stock had previously closed at $76.72.

Specifically, CFO James William Rogers sold 31,780 shares of Tempus AI stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $82.33, for a total transaction of $2,616,447.40. Following the transaction, the chief financial officer now directly owns 189,320 shares in the company, valued at approximately $15,586,715.60. This trade represents a 14.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Erik Phelps sold 61,582 shares of Tempus AI stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $82.36, for a total value of $5,071,893.52. Following the transaction, the executive vice president now owns 153,080 shares in the company, valued at approximately $12,607,668.80. This trade represents a 28.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CAO Ryan M. Bartolucci sold 818 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $81.87, for a total transaction of $66,969.66. Following the completion of the sale, the chief accounting officer now directly owns 46,182 shares of the company’s stock, valued at $3,780,920.34. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Guggenheim assumed coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. Bank of America raised their price objective on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. William Blair lowered Tempus AI from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Wolfe Research assumed coverage on Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Tempus AI has a consensus rating of “Moderate Buy” and an average target price of $58.55.

Tempus AI Stock Down 11.2 %

The company has a 50-day moving average price of $50.29 and a 200 day moving average price of $51.65. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Institutional Trading of Tempus AI

Hedge funds and other institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new stake in shares of Tempus AI during the fourth quarter worth $108,000. Voloridge Investment Management LLC purchased a new stake in shares of Tempus AI during the fourth quarter worth $11,826,000. Two Sigma Advisers LP purchased a new stake in shares of Tempus AI during the fourth quarter worth $625,000. ProShare Advisors LLC purchased a new stake in shares of Tempus AI during the fourth quarter worth $244,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Tempus AI during the fourth quarter worth $1,034,000. Institutional investors and hedge funds own 24.22% of the company’s stock.

About Tempus AI

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.