Tempus AI (NASDAQ:TEM) Stock Price Down 4.1% After Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) shares traded down 4.1% during trading on Monday after an insider sold shares in the company. The stock traded as low as $48.08 and last traded at $49.31. 8,476,573 shares were traded during mid-day trading, a decline of 8% from the average session volume of 9,223,558 shares. The stock had previously closed at $51.40.

Specifically, CEO Eric P. Lefkofsky sold 85,788 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $53.39, for a total transaction of $4,580,221.32. Following the completion of the sale, the chief executive officer now directly owns 5,771,787 shares of the company’s stock, valued at $308,155,707.93. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric P. Lefkofsky sold 476,209 shares of Tempus AI stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $49.84, for a total value of $23,734,256.56. Following the completion of the transaction, the chief executive officer now owns 6,502,643 shares in the company, valued at $324,091,727.12. The trade was a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several brokerages recently commented on TEM. Guggenheim began coverage on shares of Tempus AI in a research report on Monday, December 9th. They issued a “buy” rating and a $74.00 price target for the company. Piper Sandler restated a “neutral” rating and issued a $70.00 target price (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Bank of America raised their target price on Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Loop Capital dropped their price target on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.36.

Tempus AI Price Performance

The company has a fifty day moving average price of $44.32 and a 200-day moving average price of $47.87. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. bought a new stake in shares of Tempus AI during the 3rd quarter worth about $30,000. FNY Investment Advisers LLC bought a new stake in Tempus AI during the fourth quarter worth approximately $67,000. Vestor Capital LLC acquired a new position in Tempus AI during the third quarter valued at approximately $153,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Tempus AI in the fourth quarter valued at approximately $178,000. Finally, Stifel Financial Corp acquired a new stake in shares of Tempus AI in the third quarter worth $218,000. Institutional investors 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.