Tempus AI (NASDAQ:TEM) Stock Price Down 3.6% on Insider Selling

Tempus AI, Inc. (NASDAQ:TEM)’s share price fell 3.6% on Thursday following insider selling activity. The stock traded as low as $36.72 and last traded at $37.49. 2,982,685 shares were traded during trading, a decline of 21% from the average session volume of 3,784,073 shares. The stock had previously closed at $38.88.

Specifically, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $39.61, for a total transaction of $792,200.00. Following the transaction, the chief operating officer now directly owns 982,442 shares in the company, valued at approximately $38,914,527.62. This represents a 2.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

TEM has been the subject of several research reports. Loop Capital upped their target price on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America upped their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Stifel Nicolaus cut shares of Tempus AI from a “buy” rating to a “hold” rating and lifted their target price for the stock from $45.00 to $65.00 in a research report on Monday, November 11th. Piper Sandler restated a “neutral” rating and set a $70.00 price target (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Finally, Guggenheim initiated coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Tempus AI Price Performance

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 business has a 50-day simple moving average of $48.59 and a 200 day simple moving average of $46.96.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. bought a new position in Tempus AI in the second quarter worth about $19,886,000. Revolution Growth Management Company Inc. bought a new position in shares of Tempus AI in the 2nd quarter worth approximately $128,133,000. Allen Operations LLC purchased a new position in shares of Tempus AI in the 2nd quarter valued at approximately $3,831,000. WINTON GROUP Ltd purchased a new position in shares of Tempus AI in the 2nd quarter valued at approximately $634,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Tempus AI during the second quarter valued at approximately $28,246,000. Institutional investors own 24.22% of the company’s stock.

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.