Tempus AI (NASDAQ:TEM) Stock Price Down 3% Following Insider Selling

Tempus AI, Inc. (NASDAQ:TEM)’s share price fell 3% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $46.76 and last traded at $47.40. 3,575,738 shares were traded during mid-day trading, a decline of 25% from the average session volume of 4,750,433 shares. The stock had previously closed at $48.86.

Specifically, CEO Eric P. Lefkofsky sold 562,345 shares of Tempus AI stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 owns 9,457,283 shares in the company, valued at $481,659,423.19. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nadja West sold 809 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the transaction, the director now directly 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 related news, COO Ryan Fukushima sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 924,460 shares in the company, valued at $47,286,129. The trade was a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TEM shares. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Bank of America increased their price target on Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. TD Cowen reissued a “buy” rating and issued a $74.00 price objective (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research report on Tuesday, February 25th. Finally, Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and raised their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.18.

Tempus AI Trading Up 0.5 %

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’s 50-day simple moving average is $54.02 and its 200-day simple moving average is $52.54.

Institutional Trading of Tempus AI

Several institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new position in shares of Tempus AI in the fourth quarter worth about $108,000. Voloridge Investment Management LLC bought a new position in Tempus AI during the fourth quarter worth about $11,826,000. Two Sigma Advisers LP bought a new position in Tempus AI during the fourth quarter worth about $625,000. ProShare Advisors LLC acquired a new stake in Tempus AI during the fourth quarter worth about $244,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Tempus AI during the 4th quarter valued at approximately $1,034,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.