Ryan M. Bartolucci, the Chief Accounting Officer at Tempus AI, Inc. (NASDAQ:TEM), a company currently valued at $6.1 billion, sold 339 shares of Class A Common Stock on December 16. According to InvestingPro data, the stock has experienced a 7% decline over the past week. The shares were sold at an average price of $40.23, resulting in a total transaction value of $13,637. This transaction was part of a mandatory sale to cover tax obligations related to the vesting of restricted stock units, as specified by the company's equity incentive plans. Following this transaction, Bartolucci retained ownership of 71,007 shares. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.69, indicating healthy short-term financial stability. Subscribers can access 8 additional key insights about TEM's financial health and market position on the platform.
In other recent news, Tempus AI has been the subject of multiple analyst revisions following their recent earnings report. Piper Sandler notably increased their price target for the company from $40 to $70, maintaining a Neutral rating. This adjustment came in the wake of Tempus AI's acquisition of Ambry Genetics, a strategic move that promises significant opportunities in data and applications over time. Meanwhile, Stifel downgraded Tempus AI from Buy to Hold, but raised their price target to $65.
In a similar vein, Needham raised its price target for Tempus AI to $56, while maintaining a Buy rating. This adjustment was prompted by the company's third-quarter results, which exceeded market expectations. Tempus AI's CEO, Eric Lefkofsky, has deferred the settlement of approximately 4.47 million restricted stock units to a period between January 15, 2025, and March 15, 2025.
In other developments, Tempus AI has entered into a strategic collaboration with Avacta Therapeutics, aiming to utilize AI in advancing oncology drug development. Avacta will gain access to Tempus AI's comprehensive multimodal datasets, which include primary tumor samples and associated clinical data from over 200,000 patients.
Finally, 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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