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

Tempus AI, Inc. (NASDAQ:TEM) shares traded down 2.3% during trading on Thursday following insider selling activity. The company traded as low as $57.66 and last traded at $60.81. 8,502,496 shares traded 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 company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the transaction, the chief executive officer now owns 4,895,589 shares in the company, valued at $287,615,853.75. This represents a 39.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus lowered Tempus AI from a “buy” rating to a “hold” rating and upped their target price for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Bank of America upped their target price on Tempus AI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and upped their target price for the company from $50.00 to $55.00 in a research report on Tuesday. Finally, Loop Capital cut their target price on Tempus AI from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.55.

Tempus AI Trading Up 1.6 %

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 company has a 50-day moving average of $52.29 and a 200-day moving average of $52.27.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TEM. International Assets Investment Management LLC grew its stake in Tempus AI by 141,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 70,750 shares of the company’s stock worth $4,004,000 after buying an additional 70,700 shares during the last quarter. Janney Capital Management LLC bought a new position in Tempus AI during the 3rd quarter worth $385,000. Vestor Capital LLC bought a new position in Tempus AI during the 3rd quarter worth $153,000. ARK Investment Management LLC grew its stake in Tempus AI by 355.0% during the 3rd quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after buying an additional 1,855,459 shares during the last quarter. Finally, Sigma Planning Corp bought a new position in Tempus AI during the 3rd quarter worth $1,323,000. 24.22% of the stock is currently owned by 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.