Eric Lefkofsky, CEO and Chairman of Tempus AI, Inc. (NASDAQ:TEM), recently sold shares worth approximately $7,045,334, according to an SEC filing. The transactions occurred on December 18, 2024, with the sale prices ranging from $37.34 to $39.38 per share. The sale comes as the stock has experienced a significant 13% decline over the past week, according to InvestingPro data. Following these transactions, Lefkofsky retains significant holdings in the company through various entities, including Blue Media, LLC and Gray Media, LLC. The sales were made under a pre-established trading plan. The $5.2 billion market cap company currently trades near its InvestingPro Fair Value, maintaining a solid liquidity position with a current ratio of 2.69 and showing strong revenue growth of 32% year-over-year. InvestingPro subscribers can access 6 additional key insights about Tempus AI's financial health and market position.
In other recent news, Tempus AI has experienced significant changes in its stock price targets following its latest earnings report and strategic acquisition of genetics firm Ambry. Piper Sandler raised its price target from $40 to $70, maintaining a Neutral rating. Stifel downgraded the stock from Buy to Hold, but increased the price target to $65. Needham raised its stock price target to $56, keeping its Buy rating.
Tempus AI's acquisition of Ambry Genetics is viewed as a key strategic move, potentially offering immediate genomics capabilities and future opportunities in data and applications. The company has also partnered with Avacta Therapeutics to advance oncology drug development using AI, granting Avacta access to Tempus's comprehensive multimodal datasets.
Further, Tempus AI's Tempus ECG-AF device, which uses artificial intelligence to identify patients at higher risk of atrial fibrillation/flutter, recently received FDA clearance. These are among the recent developments surrounding Tempus AI.
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