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

Tempus AI, Inc. (NASDAQ:TEM) was down 3% during trading on Friday following insider selling activity. The company traded as low as $46.76 and last traded at $47.40. Approximately 3,575,738 shares traded hands during trading, a decline of 25% from the average daily volume of 4,750,433 shares. The stock had previously closed at $48.86.

Specifically, CEO Eric P. Lefkofsky sold 562,345 shares of the company’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 transaction, the chief executive officer now owns 9,457,283 shares in the company, valued at approximately $481,659,423.19. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nadja West sold 809 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $51.11, for a total value of $41,347.99. Following the completion of the transaction, the director now 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 other news, COO Ryan Fukushima sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were 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 of the company’s stock, valued at approximately $47,286,129. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TEM. Piper Sandler reduced their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday. Guggenheim restated a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Bank of America raised their target price on shares of Tempus AI from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. TD Cowen reissued a “buy” rating and set a $74.00 price target (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, Morgan Stanley lifted their target price on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Tempus AI presently has an average rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Stock Performance

The business’s fifty day simple moving average is $54.02 and its 200-day simple moving average is $52.54. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Institutional Trading of Tempus AI

A number of large investors have recently made changes to their positions in TEM. Operose Advisors LLC purchased a new stake in Tempus AI in the 4th quarter valued at about $25,000. First Horizon Advisors Inc. purchased a new stake in Tempus AI during the third quarter worth $30,000. Farther Finance Advisors LLC purchased a new position in Tempus AI during the fourth quarter valued at $34,000. Prestige Wealth Management Group LLC lifted its holdings in Tempus AI by 910.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Tempus AI in the fourth quarter worth about $49,000. 24.22% of the stock is currently owned by institutional investors.

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.