Tempus AI (NASDAQ:TEM) Shares Down 2.3% on Insider Selling

Shares of Tempus AI, Inc. (NASDAQ:TEM) traded down 2.3% during trading on Thursday following insider selling activity. The company traded as low as $57.66 and last traded at $60.81. 8,502,496 shares were traded during trading, a decline of 43% from the average session volume of 14,817,857 shares. The stock had previously closed at $62.26.

Specifically, CEO Eric P. Lefkofsky sold 3,240,234 shares of Tempus AI stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $58.75, for a total value of $190,363,747.50. Following the transaction, the chief executive officer now owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. The trade was a 39.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. William Blair reaffirmed a “market perform” rating on shares of Tempus AI in a research note on Tuesday. Wolfe Research cut shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Bank of America lifted their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Guggenheim reissued a “buy” rating on shares of Tempus AI in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.55.

Tempus AI Stock Up 1.6 %

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 firm’s fifty day moving average is $52.29 and its 200 day moving average is $52.27.

Institutional Trading of Tempus AI

Institutional investors have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tempus AI during the third quarter worth approximately $1,367,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tempus AI during the fourth quarter worth approximately $1,091,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Tempus AI by 1,591.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock worth $68,922,000 after purchasing an additional 1,145,698 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Tempus AI in the fourth quarter valued at approximately $178,000. Finally, Captrust Financial Advisors acquired a new stake in Tempus AI in the third quarter valued at approximately $2,726,000. 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.