CHICAGO—James William Rogers (NYSE:ROG), Chief Financial Officer of Tempus AI, Inc. (NASDAQ:TEM), recently sold shares of the company's Class A common stock amid a challenging week for the company's stock, which has declined over 7%. According to a filing with the Securities and Exchange Commission, Rogers sold 1,468 shares on December 16, totaling approximately $59,057. The shares were sold at a weighted average price of $40.23, with transactions occurring at prices ranging from $40.00 to $40.56. Based on InvestingPro analysis, the stock is currently trading near its Fair Value.
The transaction was a "sell to cover" sale, mandated by Tempus AI's equity incentive plans to fulfill statutory tax withholding obligations related to the vesting of restricted stock units. This sale was not a discretionary decision by Rogers. Following this transaction, Rogers retains ownership of 229,812 shares of Tempus AI. InvestingPro data shows the company maintains strong liquidity with a current ratio of 2.69, indicating healthy short-term financial stability. InvestingPro subscribers have access to 8 additional key insights about Tempus AI's financial position and market performance.
In other recent news, Tempus AI's financial performance and strategic acquisitions have attracted significant attention from financial analysts. The company's recent earnings report led Piper Sandler to raise its price target from $40 to $70, while maintaining a neutral rating. Similarly, Stifel downgraded Tempus AI from Buy to Hold but increased the price target to $65, reflecting the recent acquisition of Ambry Genetics.
Needham also raised its stock price target for Tempus AI to $56 following the company's third-quarter results and the Ambry Genetics acquisition. Meanwhile, Tempus AI has partnered with Avacta Therapeutics to utilize AI for oncology drug development. Another notable development includes FDA clearance for Tempus AI's Tempus ECG-AF device, which uses AI to identify patients at higher risk of atrial fibrillation/flutter.
These recent developments have led to various financial firms adjusting their stock price targets for Tempus AI. While Piper Sandler and Stifel remain cautious with a Neutral and Hold rating respectively, Needham maintains its Buy rating, reflecting positive expectations for the company's growth trajectory. It is important to note that these ratings and targets are based on the company's recent financial performance and strategic moves, and not on the future stock price movements.
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