Tempus AI (NASDAQ:TEM) Trading Down 3.6% Following Insider Selling

Tempus AI, Inc. (NASDAQ:TEM)’s stock price was down 3.6% on Thursday following insider selling activity. The stock traded as low as $36.72 and last traded at $37.49. Approximately 2,982,685 shares changed hands during mid-day trading, a decline of 21% from the average daily 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 that occurred on 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 owns 982,442 shares in the company, valued at approximately $38,914,527.62. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of research analysts recently weighed in on TEM shares. Wolfe Research began coverage on shares of Tempus AI in a research note on Friday, December 13th. They issued an “outperform” rating and a $60.00 price target on the stock. Bank of America boosted their price target 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 upped their target price on shares of Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Guggenheim began coverage on shares of Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 price target on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Tempus AI Trading Down 3.6 %

The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The stock’s 50-day moving average is $48.59 and its 200 day moving average is $46.96.

Institutional Investors Weigh In On Tempus AI

A number of institutional investors have recently added to or reduced their stakes in the business. Pier Capital LLC purchased a new stake in shares of Tempus AI during the 2nd quarter worth approximately $2,301,000. Federated Hermes Inc. purchased a new stake in Tempus AI in the 2nd quarter valued at approximately $19,886,000. Revolution Growth Management Company Inc. acquired a new stake in Tempus AI during the 2nd quarter valued at $128,133,000. Allen Operations LLC purchased a new stake in shares of Tempus AI in the second quarter valued at $3,831,000. Finally, WINTON GROUP Ltd acquired a new position in Tempus AI in the 2nd quarter valued at about $634,000. Hedge funds and other 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.