Tempus AI, Inc. (NASDAQ:TEM – Get Free Report) shares traded down 1.8% during mid-day trading on Friday following insider selling activity. The company traded as low as $67.35 and last traded at $67.88. 2,939,532 shares traded hands during mid-day 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 company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $70.07, for a total transaction of $17,517,500.00. Following the completion of the sale, the chief executive officer now directly owns 9,357,283 shares of the company’s stock, valued at $655,664,819.81. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Erik Phelps sold 51,317 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $72.56, for a total value of $3,723,561.52. Following the transaction, the executive vice president now owns 97,779 shares in the company, valued at $7,094,844.24. The trade was a 34.42% decrease in their position. The disclosure for this sale can be found here.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on TEM shares. Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Morgan Stanley upped their target price on Tempus AI from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Tempus AI in a research note on Wednesday, May 7th. Bank of America upped their price target on shares of Tempus AI from $48.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Finally, Guggenheim reissued a “buy” rating on shares of Tempus AI in a research note on Tuesday, February 25th. 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 data from MarketBeat.com, Tempus AI has an average rating of “Moderate Buy” and a consensus price target of $63.42.
Tempus AI Trading Down 1.1%
The firm has a market capitalization of $11.83 billion and a PE ratio of -8.76. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. The company’s 50-day moving average price is $58.73 and its 200-day moving average price is $52.71.
Tempus AI (NASDAQ:TEM – Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. The business’s revenue was up 75.4% compared to the same quarter last year. On average, sell-side analysts expect that Tempus AI, Inc. will post -6.15 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Operose Advisors LLC bought a new stake in Tempus AI in the 4th quarter valued at $25,000. Cherry Tree Wealth Management LLC bought a new stake in Tempus AI in the first quarter worth approximately $31,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Tempus AI during the first quarter valued at approximately $33,000. Farther Finance Advisors LLC bought a new stake in Tempus AI during the fourth quarter worth $34,000. Finally, Prestige Wealth Management Group LLC lifted its position 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 buying an additional 965 shares during the last quarter. Institutional investors and hedge funds own 24.22% of the company’s stock.
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.
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