Erik Phelps Sells 61,582 Shares of Tempus AI, Inc. (NASDAQ:TEM) Stock

Tempus AI, Inc. (NASDAQ:TEM) EVP Erik Phelps sold 61,582 shares of the business’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 sale, the executive vice president now directly owns 153,080 shares in the company, valued at approximately $12,607,668.80. This trade represents a 28.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Erik Phelps also recently made the following trade(s):

• On Wednesday, February 5th, Erik Phelps sold 5,934 shares of Tempus AI stock. The shares were sold at an average price of $67.57, for a total transaction of $400,960.38.

Tempus AI Price Performance

Shares of NASDAQ:TEM opened at $68.09 on Friday. Tempus AI, Inc. has a 1 year low of $22.89 and a 1 year high of $91.45. The firm has a fifty day moving average price of $50.29 and a 200 day moving average price of $51.65. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

Institutional Investors Weigh In On Tempus AI

A number of large investors have recently bought and sold shares of the business. ARK Investment Management LLC boosted its holdings in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock worth $186,343,000 after purchasing an additional 3,141,487 shares in the last quarter. NEA Management Company LLC boosted its holdings in Tempus AI by 17.8% in the third quarter. NEA Management Company LLC now owns 5,385,979 shares of the company’s stock worth $304,846,000 after purchasing an additional 813,169 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Tempus AI by 166.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after acquiring an additional 2,021,394 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in Tempus AI by 166.0% during 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 acquiring an additional 2,021,394 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock valued at $93,251,000 after acquiring an additional 1,950,862 shares during the period. 24.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TEM. Wolfe Research began coverage on shares of Tempus AI in a research note on Friday, December 13th. They set an “outperform” rating and a $60.00 target price on the stock. Piper Sandler reissued a “neutral” rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a research note on Tuesday, November 12th. Bank of America upped their price target on shares of Tempus AI from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. TD Cowen reaffirmed a “buy” rating and issued a $74.00 price target (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. Finally, Guggenheim began coverage on shares of Tempus AI in a research note on Monday, December 9th. They issued a “buy” rating and a $74.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.55.

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.