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

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

Specifically, Director Nadja West sold 809 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.11, for a total value of $41,347.99. Following the transaction, the director now owns 37,705 shares in the company, valued at approximately $1,927,102.55. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Ryan Fukushima sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.15, for a total transaction of $1,023,000.00. Following the sale, the chief operating officer now directly owns 924,460 shares of the company’s stock, valued at $47,286,129. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TEM shares. William Blair reiterated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. JPMorgan Chase & Co. downgraded shares of Tempus AI from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $50.00 to $55.00 in a research note on Tuesday, February 25th. Piper Sandler lowered their target price on Tempus AI from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday. Morgan Stanley increased their price target on shares of Tempus AI from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Loop Capital dropped their price objective on shares of Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.18.

Tempus AI Stock Down 3.1 %

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The business’s 50 day moving average is $54.02 and its 200-day moving average is $52.54.

Institutional Investors Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kovitz Investment Group Partners LLC purchased a new stake in shares of Tempus AI during the 3rd quarter worth approximately $1,367,000. China Universal Asset Management Co. Ltd. acquired a new stake in Tempus AI during the 4th quarter worth $1,091,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Tempus AI by 1,591.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,217,699 shares of the company’s stock valued at $68,922,000 after acquiring an additional 1,145,698 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Tempus AI in the fourth quarter valued at $178,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Tempus AI in the 3rd quarter valued at about $2,726,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.