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

Shares of Tempus AI, Inc. (NASDAQ:TEM) were down 2.3% on Thursday following insider selling activity. The company traded as low as $57.66 and last traded at $60.81. Approximately 8,502,496 shares traded hands during mid-day trading, a decline of 43% from the average daily 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 on Thursday, February 27th. The shares were 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 directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several research analysts have weighed in on TEM shares. Piper Sandler reissued a “neutral” rating and set a $70.00 price objective (up from $40.00) on shares of Tempus AI in a report on Tuesday, November 12th. Needham & Company LLC raised their price objective on shares of Tempus AI from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Guggenheim restated a “buy” rating on shares of Tempus AI in a research report on Tuesday. TD Cowen restated a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Finally, William Blair restated a “market perform” rating on shares of Tempus AI in a research report on Tuesday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.55.

Tempus AI Stock Performance

The company’s 50-day moving average is $52.29 and its two-hundred day moving average is $52.27. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55.

Institutional Trading of Tempus AI

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

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.