Ryan Fukushima, the Chief Operating Officer of Tempus AI, Inc. (NASDAQ:TEM), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Fukushima sold shares totaling $792,191. These transactions occurred on January 7, with the sale prices ranging from $38.98 to $41.50 per share. The stock has shown strong momentum recently, posting a 15.15% gain over the past week. According to InvestingPro analysis, TEM is currently trading below its Fair Value.
Following these sales, Fukushima retains direct ownership of 982,442 shares of Tempus AI. Additionally, he holds indirect ownership of 131,893 shares through the Ryan Fukushima Irrevocable Family Trust and 150,000 shares by his spouse. The sales were conducted under a Rule 10b5-1 trading plan, which was adopted on June 14, 2024. While the company trades at a high Price/Book multiple of 109.86x, it maintains strong liquidity with a current ratio of 2.69. InvestingPro subscribers can access 7 additional key insights about TEM's financial health and valuation metrics.
In other recent news, Tempus AI has been the subject of various financial adjustments following its recent earnings report. Piper Sandler increased the company's price target from $40 to $70, maintaining a Neutral rating. The revised price target does not account for potential impacts from Tempus AI's acquisition of Ambry Genetics. Similarly, Stifel downgraded Tempus AI's stock from Buy to Hold, but increased the price target to $65, while Needham raised its stock price target to $56, sustaining its Buy rating.
The acquisition of Ambry Genetics by Tempus AI is viewed as a strategic move with potential for significant opportunities in data and applications over time. Tempus AI has also partnered with Avacta Therapeutics to utilize AI in advancing oncology drug development.
The company's Tempus ECG-AF device, which employs artificial intelligence to identify patients at higher risk of atrial fibrillation/flutter, recently received FDA clearance. These developments highlight Tempus AI's continued efforts in expanding its capabilities and partnerships in the AI sector.
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