Tempus AI (NASDAQ:TEM) Shares Down 0% After Insider Selling

Tempus AI, Inc. (NASDAQ:TEM)’s share price traded down 0% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $47.12 and last traded at $48.02. 3,016,581 shares traded hands during trading, a decline of 40% from the average session volume of 5,007,310 shares. The stock had previously closed at $48.03.

Specifically, Director David R. Epstein sold 990 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $46.83, for a total value of $46,361.70. Following the sale, the director now directly owns 26,284 shares in the company, valued at $1,230,879.72. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew Polovin sold 13,135 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $45.98, for a total transaction of $603,947.30. Following the completion of the sale, the executive vice president now directly owns 154,171 shares in the company, valued at approximately $7,088,782.58. This represents a 7.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CFO James William Rogers sold 23,030 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $45.97, for a total transaction of $1,058,689.10. Following the completion of the sale, the chief financial officer now owns 164,750 shares of the company’s stock, valued at $7,573,557.50. This trade represents a 12.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TEM shares. Needham & Company LLC lifted their price target on shares of Tempus AI from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Wolfe Research lowered Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on Tempus AI from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Bank of America lifted their target price on shares of Tempus AI from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Tempus AI Trading Down 0.0 %

The business’s 50-day simple moving average is $55.86 and its 200 day simple moving average is $51.48. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Hedge Funds Weigh In On Tempus AI

A number of large investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its stake in shares of Tempus AI by 132.1% in the 4th quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after acquiring an additional 3,141,487 shares during the last quarter. NEA Management Company LLC boosted its position 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. grew its holdings in Tempus AI by 166.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after acquiring an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after acquiring an additional 2,021,394 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Tempus AI by 240.5% during the fourth 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.