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

Tempus AI, Inc. (NASDAQ:TEM - Get Free Report)'s share price gapped down prior to trading on Thursday after an insider sold shares in the company. 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 transaction of $2,616,447.40. Following the transaction, the chief financial officer now directly owns 189,320 shares of the company's stock, valued at approximately $15,586,715.60. The trade was a 14.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Erik Phelps sold 61,582 shares of the company's stock in a transaction on 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 in the company, valued at $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 related news, CAO Ryan M. Bartolucci sold 818 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $81.87, for a total value of $66,969.66. Following the sale, the chief accounting officer now directly owns 46,182 shares of the company's stock, valued at $3,780,920.34. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wolfe Research began coverage on shares of Tempus AI in a report on Friday, December 13th. They set an "outperform" rating and a $60.00 target price on the stock. William Blair lowered shares of Tempus AI from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 12th. Stifel Nicolaus lowered shares of Tempus AI from a "buy" rating to a "hold" rating and upped their price objective for the company from $45.00 to $65.00 in a research note on Monday, November 11th. Bank of America increased their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $56.00 price target on shares of Tempus AI 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $58.55.

Tempus AI Stock Performance

The firm's 50 day moving average price is $50.29 and its 200-day moving average price is $51.72. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Tempus AI by 13.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock valued at $80,000 after purchasing an additional 278 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in Tempus AI during the 3rd quarter worth approximately $30,000. Geode Capital Management LLC increased its stake in Tempus AI by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 133,171 shares of the company's stock worth $7,537,000 after purchasing an additional 539 shares in the last quarter. Operose Advisors LLC acquired a new position in Tempus AI during the 4th quarter worth approximately $25,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of 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 buying an additional 965 shares during the last quarter. 24.22% of the stock is owned by 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.