Eric Lefkofsky, CEO and Chairman of Tempus AI , Inc. (NASDAQ:TEM), recently sold a significant portion of his holdings, totaling approximately $62 million in value. The transactions, disclosed in a Form 4 filing with the Securities and Exchange Commission, occurred over several days. The sales come amid a remarkable 46% surge in TEM's stock price over the past week. According to InvestingPro, the company, currently valued at $8.63 billion, has shown strong momentum despite operating at a loss.
On January 22, Lefkofsky sold a series of shares at prices ranging from $47.78 to $51.82. These sales included 30,609 shares at $47.78, 101,967 shares at $49.06, and 238,699 shares at $49.84. Additional transactions included 60,587 shares at $50.70 and 41,747 shares at $51.82.
The following day, January 23, saw further sales with 24,677 shares sold at $48 and 61,987 shares at $48.57. Notably, a larger transaction involved 365,467 shares at $52.79.
On January 24, Lefkofsky continued the trend, selling 71,333 shares at $53.26 and 11,355 shares at $53.84. The final transaction for that day involved 3,100 shares sold at $54.75.
These transactions were part of a mandated "sell to cover" to meet tax obligations related to the vesting of restricted stock units, as noted in the filing. Following these sales, Lefkofsky retains ownership of several million shares, both directly and indirectly through various entities. InvestingPro subscribers can access additional insights, including 8 more ProTips and detailed financial metrics for TEM.
In other recent news, Tempus AI, a healthcare AI company, has reported impressive revenue growth of 30% for 2024, with total revenues of approximately $693 million. The fourth quarter alone saw revenues of about $200 million, representing a 35% rise year-over-year. The company has also launched a personal health concierge app, Olivia, aimed at centralizing patient health data and providing AI-driven insights. Furthermore, Tempus AI has announced the development of a whole-genome sequencing test, named xH, currently available for research purposes and expected to be clinically available within the next year. In terms of analyst updates, Loop Capital trimmed its price target on Tempus AI from $57.00 to $52.00, while maintaining a Buy rating. Similarly, Piper Sandler raised the price target for Tempus AI from $40 to $70, maintaining a neutral rating. Stifel, however, downgraded Tempus AI's stock from Buy to Hold but increased the price target to $65. These are recent developments for Tempus AI.
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