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

Tempus AI, Inc. (NASDAQ:TEM)’s stock price traded down 4.1% on Monday following insider selling activity. The stock traded as low as $48.08 and last traded at $49.31. 8,476,573 shares changed hands 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 stock in a transaction on Friday, January 24th. The shares were sold at an average price of $53.39, for a total value 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 represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric P. Lefkofsky sold 476,209 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $49.84, for a total transaction of $23,734,256.56. Following the transaction, the chief executive officer now owns 6,502,643 shares in the company, valued at approximately $324,091,727.12. The trade was a 6.82 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEM. Loop Capital lowered their price target on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Guggenheim began coverage on Tempus AI in a research report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and boosted their price target for the company from $45.00 to $65.00 in a report on Monday, November 11th. Finally, Bank of America raised their price objective on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.36.

Tempus AI Stock Up 0.9 %

The business’s 50-day moving average is $44.32 and its 200-day moving average is $47.87. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Institutional Trading of Tempus AI

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new position in shares of Tempus AI in the third quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new stake in Tempus AI during the 4th quarter valued at $67,000. Vestor Capital LLC acquired a new stake in Tempus AI during the 3rd quarter valued at $153,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Tempus AI in the 4th quarter valued at $178,000. Finally, Stifel Financial Corp acquired a new position in Tempus AI in the third quarter worth $218,000. 24.22% of the stock is owned by institutional investors.

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.