Tempus AI (NASDAQ:TEM) Trading Down 1.8% on Insider Selling

Tempus AI, Inc. (NASDAQ:TEM)’s stock price fell 1.8% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $67.35 and last traded at $67.88. 2,939,532 shares were traded during trading, a decline of 58% from the average session volume of 7,044,291 shares. The stock had previously closed at $69.10.

Specifically, CEO Eric P. Lefkofsky sold 250,000 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $70.07, for a total value of $17,517,500.00. Following the sale, the chief executive officer now directly owns 9,357,283 shares in the company, valued at $655,664,819.81. The trade was a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Erik Phelps sold 51,317 shares of Tempus AI stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $72.56, for a total transaction of $3,723,561.52. Following the transaction, the executive vice president now directly owns 97,779 shares of the company’s stock, valued at approximately $7,094,844.24. This represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

TEM has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Tempus AI in a research note on Wednesday, May 7th. Guggenheim reaffirmed a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. Wolfe Research cut shares of Tempus AI from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. BTIG Research assumed coverage on shares of Tempus AI in a research report on Monday, April 21st. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Tempus AI from $55.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.42.

Tempus AI Price Performance

The firm’s fifty day moving average price is $58.73 and its 200 day moving average price is $52.74. The firm has a market capitalization of $11.83 billion and a PE ratio of -8.76. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 2.45.

Tempus AI (NASDAQ:TEM) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. Tempus AI had a negative net margin of 88.27% and a negative return on equity of 533.21%. The firm had revenue of $255.74 million for the quarter, compared to the consensus estimate of $248.13 million. Tempus AI’s revenue for the quarter was up 75.4% compared to the same quarter last year. As a group, equities analysts forecast that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Hedge Funds Weigh In On Tempus AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Tempus AI by 6,247.5% in the first quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company’s stock valued at $289,204,000 after buying an additional 5,900,668 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Tempus AI by 132.1% in 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. Nikko Asset Management Americas Inc. raised its position in shares of Tempus AI by 166.0% in 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. raised its position in shares of Tempus AI by 240.5% in 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. raised its position in shares of Tempus AI by 86,947.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company’s stock valued at $55,836,000 after buying 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.