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

Tempus AI, Inc. (NASDAQ:TEM) was down 14.5% during trading on Thursday following insider selling activity. The stock traded as low as $72.25 and last traded at $73.25. Approximately 12,344,723 shares changed hands during mid-day trading, a decline of 13% from the average daily 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 company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $82.33, for a total transaction of $2,616,447.40. Following the completion of the transaction, the chief financial officer now owns 189,320 shares in the company, valued at $15,586,715.60. This represents a 14.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Erik Phelps sold 61,582 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $82.36, for a total value of $5,071,893.52. Following the transaction, the executive vice president now owns 153,080 shares of the company’s stock, valued at approximately $12,607,668.80. This represents a 28.69 % decrease in their position. The disclosure for this sale can be found here. In related news, CAO Ryan M. Bartolucci sold 818 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $81.87, for a total transaction of $66,969.66. Following the completion of the transaction, the chief accounting officer now owns 46,182 shares in the company, valued at $3,780,920.34. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TEM shares. Stifel Nicolaus downgraded Tempus AI from a “buy” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $65.00 in a report on Monday, November 11th. Loop Capital decreased their price objective on Tempus AI from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. William Blair downgraded Tempus AI from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 price objective on shares of Tempus AI in a report on Tuesday, January 14th. Finally, Guggenheim started coverage on Tempus AI in a report on Monday, December 9th. They issued a “buy” rating and a $74.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.55.

Tempus AI Stock Down 11.2 %

The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The firm has a fifty day moving average price of $50.29 and a two-hundred day moving average price of $51.65.

Institutional Investors Weigh In On Tempus AI

Several institutional investors have recently modified their holdings of TEM. ARK Investment Management LLC boosted its position in shares of Tempus AI by 132.1% during the fourth 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 last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Tempus AI by 166.0% during the fourth 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 last quarter. Nikko Asset Management Americas Inc. boosted its position 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 buying an additional 2,021,394 shares during the last quarter. Franklin Resources Inc. boosted its position 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 last quarter. Finally, JPMorgan Chase & Co. boosted its position in Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock worth $55,836,000 after purchasing an additional 1,651,996 shares during the last quarter. 24.22% of the stock is owned by hedge funds and other 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.