Andrew Polovin, Executive Vice President and General Counsel at Tempus AI, Inc. (NASDAQ:TEM), recently sold 1,130 shares of the company's Class A common stock. The stock has seen significant volatility, dropping 7% in the past week while maintaining a 28% gain over the last six months. The transaction, dated December 16, 2024, amounted to $45,459, with shares sold at a weighted average price of $40.23. According to the filing, this sale was conducted to cover statutory tax withholding obligations related to the vesting of restricted stock units, as mandated by Tempus AI's equity incentive plans. Following this transaction, Polovin retains ownership of 244,955 shares in the company, which represents a stake in Tempus AI's $6.1 billion market capitalization. The company maintains strong liquidity with a current ratio of 2.69, indicating healthy short-term financial positioning. InvestingPro subscribers can access 8 additional key insights about Tempus AI's financial health and market position.
In other recent news, Tempus AI has been the focus of several financial firms following its recent earnings report and acquisition of genetics firm, Ambry. Piper Sandler increased Tempus AI's price target from $40 to $70, maintaining a neutral rating. Stifel downgraded Tempus AI from Buy to Hold, but increased its price target to $65. Needham raised its price target to $56 and maintained a Buy rating.
These adjustments came on the heels of Tempus AI's third-quarter results, which exceeded market expectations, and the strategic acquisition of Ambry Genetics. The acquisition is expected to introduce immediate genomics capabilities and significant opportunities in data and applications over time.
Tempus AI has also partnered with Avacta Therapeutics to utilize AI in advancing oncology drug development, providing Avacta access to Tempus's comprehensive multimodal datasets. Furthermore, 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 the recent developments surrounding Tempus AI.
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