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

Tempus AI, Inc. (NASDAQ:TEM) gapped down prior to trading 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 trading hands.

Specifically, CFO James William Rogers sold 31,780 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $82.33, for a total value of $2,616,447.40. Following the completion of the transaction, the chief financial officer now directly owns 189,320 shares in the company, valued at $15,586,715.60. The trade was a 14.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Erik Phelps sold 61,582 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $82.36, for a total transaction of $5,071,893.52. Following the completion of the sale, the executive vice president now directly owns 153,080 shares of the company’s stock, valued at $12,607,668.80. This represents a 28.69 % decrease in their position. The disclosure for this sale can be found here. In other news, CAO Ryan M. Bartolucci sold 818 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $81.87, for a total transaction of $66,969.66. Following the sale, the chief accounting officer now owns 46,182 shares of the company’s stock, valued at approximately $3,780,920.34. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TEM. TD Cowen reaffirmed a “buy” rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. William Blair cut Tempus AI from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and issued a $56.00 price target on shares of Tempus AI in a report on Tuesday, January 14th. Stifel Nicolaus lowered 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 note on Monday, November 11th. Finally, Loop Capital reduced their price target 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. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.55.

Tempus AI Price Performance

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 business has a 50-day simple moving average of $50.29 and a 200-day simple moving average of $51.65.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Operose Advisors LLC acquired a new stake in shares of Tempus AI during the fourth quarter worth about $25,000. First Horizon Advisors Inc. bought a new position in shares of Tempus AI during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC bought a new stake in Tempus AI in the 4th quarter valued at $34,000. Prestige Wealth Management Group LLC boosted its stake in Tempus AI by 910.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,071 shares of the company’s stock valued at $36,000 after purchasing an additional 965 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in shares of Tempus AI during the 4th quarter valued at $49,000. 24.22% of the stock is currently owned by institutional investors and hedge funds.

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.