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

Shares of Tempus AI, Inc. (NASDAQ:TEM) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $85.71, but opened at $79.99. Tempus AI shares last traded at $74.08, with a volume of 7,986,420 shares traded.

Specifically, CFO James William Rogers sold 31,780 shares of Tempus AI stock in a transaction that occurred on 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 in the company, valued at approximately $15,586,715.60. This trade represents a 14.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Erik Phelps sold 61,582 shares of Tempus AI stock in a transaction on 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 transaction, the executive vice president now directly owns 153,080 shares of the company’s stock, valued at approximately $12,607,668.80. This represents a 28.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CAO Ryan M. Bartolucci sold 818 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $81.87, for a total value of $66,969.66. Following the completion of the transaction, the chief accounting officer now directly owns 46,182 shares of the company’s stock, valued at $3,780,920.34. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

TEM has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Tempus AI in a research report on Tuesday, January 14th. Wolfe Research began coverage on Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price target (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Guggenheim began coverage on Tempus AI in a research note on Monday, December 9th. They set a “buy” rating and a $74.00 price target for the company. Finally, William Blair lowered Tempus AI from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.55.

Tempus AI Stock Down 11.2 %

The business’s 50 day moving average is $50.29 and its two-hundred day moving average is $51.65. The company has a debt-to-equity ratio of 8.17, a quick ratio of 2.55 and a current ratio of 2.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. purchased a new stake in shares of Tempus AI in the 3rd quarter valued at $30,000. Operose Advisors LLC bought a new position in shares of Tempus AI in the 4th quarter worth about $25,000. Farther Finance Advisors LLC bought a new stake in Tempus AI during the 4th quarter valued at about $34,000. Prestige Wealth Management Group LLC boosted its holdings in shares of Tempus AI by 910.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after acquiring an additional 965 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Tempus AI in the fourth quarter worth approximately $49,000. 24.22% of the stock is currently 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.