Tempus AI (NASDAQ:TEM) Trading Down 14.5% on Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) dropped 14.5% during trading on Thursday following insider selling activity. The stock traded as low as $72.25 and last traded at $73.25. Approximately 12,344,723 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 14,108,291 shares. The stock had previously closed at $85.71.

Specifically, CFO James William Rogers sold 31,780 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $82.33, for a total value of $2,616,447.40. Following the completion of the transaction, the chief financial officer now owns 189,320 shares of the company’s stock, valued at approximately $15,586,715.60. This trade represents a 14.37 % 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. Also, EVP Erik Phelps sold 61,582 shares of Tempus AI stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $82.36, for a total transaction of $5,071,893.52. Following the completion of the transaction, the executive vice president now owns 153,080 shares of the company’s stock, valued at $12,607,668.80. This represents a 28.69 % decrease in their position. The disclosure for this sale can be found here. In related news, CAO Ryan M. Bartolucci sold 818 shares of Tempus AI stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $81.87, for a total value of $66,969.66. Following the completion of the transaction, the chief accounting officer now owns 46,182 shares in the company, valued at $3,780,920.34. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Wolfe Research initiated coverage on shares of Tempus AI in a research report on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective for the company. William Blair downgraded shares of Tempus AI from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Loop Capital reduced their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Piper Sandler restated a “neutral” rating and set a $70.00 price objective (up previously from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Stock Performance

The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69. The stock’s 50 day moving average price is $50.29 and its two-hundred day moving average price is $51.65.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently made changes to their positions in TEM. ARK Investment Management LLC grew its stake in shares of Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after purchasing an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tempus AI by 166.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. grew its stake in shares of Tempus AI by 166.0% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after purchasing an additional 2,021,394 shares during the period. Franklin Resources Inc. grew its stake in shares of Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after purchasing an additional 1,950,862 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Tempus AI by 86,947.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after purchasing an additional 1,651,996 shares during the period. 24.22% of the stock is owned by institutional investors and hedge funds.

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.