Tempus AI, Inc. (NASDAQ:TEM) recently saw significant stock sales by Red Sky Ventures LLC, a major shareholder. According to the latest SEC filings, Red Sky Ventures sold a total of 1,950,000 shares of Tempus AI Class A common stock, generating approximately $79.76 million. The shares were sold at prices ranging from $40.75 to $41.00 per share. The timing is notable as InvestingPro data shows TEM stock has declined nearly 19% in the past week, with the current price at $41.99. Following the transactions, Red Sky Ventures, with Kimberly Jo Keywell as its sole member and manager, holds 14,610,249 shares indirectly. The sales reflect Red Sky Ventures' ongoing management of its investment portfolio in Tempus AI, which maintains a strong financial position with a current ratio of 2.69 and operates with moderate debt levels. InvestingPro subscribers can access 8 additional key insights about TEM's financial health and valuation metrics to inform their investment decisions.
In other recent news, Tempus AI's earnings report has prompted multiple financial firms to adjust their outlook on the company. Piper Sandler increased the stock's price target from $40 to $70, maintaining a Neutral rating. The firm acknowledged improved performance but remains cautious about Tempus AI's future prospects. Stifel downgraded the stock from Buy to Hold but increased the price target to $65, while Needham raised its stock price target to $56 and maintained its Buy rating.
The acquisition of Ambry Genetics by Tempus AI is seen as a strategic move, introducing immediate genomics capabilities and promising significant opportunities in data and applications over time. 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.
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. These recent developments reflect Tempus AI's continued growth and strategic initiatives in the field of artificial intelligence and healthcare.
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