Tempus AI (NASDAQ:TEM) Shares Down 2.3% After Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) shares traded down 2.3% on Thursday following insider selling activity. The company traded as low as $57.66 and last traded at $60.81. 8,502,496 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 14,817,857 shares. The stock had previously closed at $62.26.

Specifically, CEO Eric P. Lefkofsky sold 3,240,234 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $58.75, for a total transaction of $190,363,747.50. Following the completion of the transaction, the chief executive officer now owns 4,895,589 shares of the company’s stock, valued at $287,615,853.75. This trade represents a 39.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TEM. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and raised their target price for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research note on Tuesday. Needham & Company LLC raised their target price on Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Bank of America raised their target price on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Tempus AI currently has an average rating of “Moderate Buy” and a consensus price target of $60.55.

Tempus AI Price Performance

The firm has a fifty day moving average price of $52.29 and a 200 day moving average price of $52.27. 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 Investors Weigh In On Tempus AI

Hedge funds have recently bought and sold shares of the business. Operose Advisors LLC purchased a new stake in Tempus AI in the 4th quarter worth about $25,000. First Horizon Advisors Inc. purchased a new stake in shares of Tempus AI during the 3rd quarter worth about $30,000. Farther Finance Advisors LLC purchased a new stake in shares of Tempus AI during the 4th quarter worth about $34,000. Prestige Wealth Management Group LLC raised its stake in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock worth $36,000 after purchasing an additional 965 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Tempus AI during the 4th quarter worth about $49,000. 24.22% of the stock is owned by hedge funds and other 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.