Tempus AI (NASDAQ:TEM) Stock Price Down 5.7% After Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) shares were down 5.7% on Monday following insider selling activity. The stock traded as low as $33.42 and last traded at $33.53. Approximately 1,226,691 shares were traded during trading, a decline of 22% from the average daily volume of 1,575,843 shares. The stock had previously closed at $35.54.

Specifically, CEO Eric P. Lefkofsky sold 187,655 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $37.54, for a total value of $7,044,568.70. Following the completion of the sale, the chief executive officer now directly owns 9,557,283 shares of the company’s stock, valued at approximately $358,780,403.82. This represents a 1.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ryan Fukushima sold 3,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $40.23, for a total value of $140,805.00. Following the completion of the transaction, the chief operating officer now owns 1,003,707 shares in the company, valued at $40,379,132.61. This represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. In related news, EVP Andrew Polovin sold 1,130 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $40.23, for a total transaction of $45,459.90. Following the completion of the sale, the executive vice president now directly owns 244,955 shares in the company, valued at approximately $9,854,539.65. This trade represents a 0.46 % 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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TEM shares. Stifel Nicolaus lowered shares of Tempus AI from a “buy” rating to a “hold” rating and upped their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Guggenheim initiated coverage on Tempus AI in a report on Monday, December 9th. They set a “buy” rating and a $74.00 price objective for the company. Bank of America boosted 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. Loop Capital raised their price target on Tempus AI from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $70.00 price target (up previously from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Tempus AI Price Performance

The firm has a 50 day simple moving average of $50.88. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Institutional Investors Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently made changes to their positions in TEM. NEA Management Company LLC bought a new position in Tempus AI during the second quarter worth $160,048,000. Novo Holdings A S bought a new position in shares of Tempus AI during the 2nd quarter worth about $142,605,000. Revolution Growth Management Company Inc. acquired a new position in shares of Tempus AI during the second quarter valued at about $128,133,000. ARK Investment Management LLC lifted its stake in shares of Tempus AI by 355.0% in the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock valued at $134,604,000 after buying an additional 1,855,459 shares during the period. Finally, Alphabet Inc. acquired a new stake in Tempus AI during the second quarter worth about $54,289,000. 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.