Tempus AI (NASDAQ:TEM) Trading Down 8.8% After Insider Selling

Shares of Tempus AI, Inc. (NASDAQ:TEM) were down 8.8% during trading on Monday after an insider sold shares in the company. The company traded as low as $43.90 and last traded at $44.79. Approximately 4,426,418 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 4,781,867 shares. The stock had previously closed at $49.10.

Specifically, CEO Eric P. Lefkofsky sold 562,345 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $50.93, for a total value of $28,640,230.85. Following the completion of the sale, the chief executive officer now owns 9,457,283 shares in the company, valued at approximately $481,659,423.19. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nadja West sold 809 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the completion of the sale, the director now owns 37,705 shares of the company’s stock, valued at $1,927,102.55. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In other Tempus AI news, COO Ryan Fukushima sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 924,460 shares in the company, valued at approximately $47,286,129. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of analysts have commented on TEM shares. JPMorgan Chase & Co. downgraded Tempus AI from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Loop Capital reduced their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley raised their target price on Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Bank of America raised their target price on Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, Wolfe Research downgraded Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Down 8.0 %

The company has a 50-day simple moving average of $54.30 and a 200-day simple moving average of $52.30. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently made changes to their positions in TEM. Operose Advisors LLC acquired a new stake in shares of Tempus AI in the 4th quarter valued at $25,000. First Horizon Advisors Inc. acquired a new stake in shares of Tempus AI in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC acquired a new stake in shares of Tempus AI in the 4th quarter valued at $34,000. Prestige Wealth Management Group LLC increased its stake in shares of Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after buying an additional 965 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in shares of Tempus AI in the 4th quarter valued at $49,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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.