Tempus AI (NASDAQ:TEM) Stock Price Down 14.5% Following Insider Selling

Tempus AI, Inc. (NASDAQ:TEM) shares fell 14.5% during mid-day trading on Thursday following insider selling activity. The company traded as low as $72.25 and last traded at $73.25. 12,344,723 shares were traded during trading, a decline of 13% from the average session 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 dated Tuesday, February 18th. The stock was sold at an average price of $82.33, for a total value of $2,616,447.40. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Erik Phelps sold 61,582 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $82.36, for a total value of $5,071,893.52. Following the completion of the transaction, the executive vice president now directly owns 153,080 shares in the company, valued at $12,607,668.80. The trade was a 28.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Tempus AI news, CAO Ryan M. Bartolucci sold 818 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $81.87, for a total value of $66,969.66. Following the transaction, the chief accounting officer now directly owns 46,182 shares of the company’s stock, valued at approximately $3,780,920.34. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TEM. Piper Sandler reissued a “neutral” rating and issued a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective on shares of Tempus AI in a research report on Tuesday, January 14th. Loop Capital lowered their price objective 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. Stifel Nicolaus cut Tempus AI from a “buy” rating to a “hold” rating and lifted their price objective for the company from $45.00 to $65.00 in a research report on Monday, November 11th. Finally, William Blair cut Tempus AI from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Tempus AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.55.

Tempus AI Stock Performance

The stock has a 50 day simple moving average of $50.29 and a 200-day simple moving average of $51.65. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17.

Institutional Trading of Tempus AI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC raised its holdings in Tempus AI by 132.1% during the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after buying an additional 3,141,487 shares during the period. NEA Management Company LLC raised its holdings in Tempus AI by 17.8% during the 3rd quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock valued at $304,846,000 after buying an additional 813,169 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in 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 valued at $109,352,000 after buying an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in 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 valued at $109,352,000 after buying an additional 2,021,394 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Tempus AI by 240.5% during the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after buying an additional 1,950,862 shares during the period. Hedge funds and other institutional investors own 24.22% of the company’s stock.

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.