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Eric Lefkofsky, CEO and Chairman of Tempus AI , Inc. (NASDAQ:TEM), sold a significant portion of his holdings in the company according to a recent SEC filing. On February 19 and 20, Lefkofsky disposed of a total of 153,871 shares of Class A common stock, amounting to approximately $11.97 million. The sales were executed at prices ranging from $74.09 to $82.47 per share. The timing is notable as the stock has declined 14% over the past week, despite posting a remarkable 127% gain year-to-date. InvestingPro subscribers can access comprehensive insider trading analysis and 11 additional key insights about TEM.
These transactions were reported as part of the company’s equity incentive plans, where shares were sold to cover statutory tax withholding obligations upon the vesting of restricted stock units. Following these sales, Lefkofsky retains ownership of over 4.89 million shares directly in the company, which currently maintains a market capitalization of $14.1 billion. With earnings scheduled for February 24, investors should note that Tempus AI operates with a moderate debt level and maintains a "Fair" overall financial health score.
Additionally, a separate transaction involving 112 shares was reported, valued at $0, reflecting a pro rata distribution by a limited partnership. This did not constitute a sale or purchase of securities.
Lefkofsky continues to hold substantial indirect ownership through various entities, including Gray Media, LLC, Blue Media, LLC, and others, maintaining a significant stake in Tempus AI.
In other recent news, Tempus AI Inc has announced the national launch of its new personal health concierge app, olivia. This AI-enabled app is designed to centralize patient health data from over 1,000 health systems, providing actionable insights and enhancing patient care. The launch of olivia has been met with enthusiasm, reflecting investor optimism about its potential to transform patient engagement with health data. Additionally, Tempus AI recently completed the acquisition of Ambry Genetics, a strategic move that adds a profitable germline testing laboratory with over $300 million in revenue to its portfolio. This acquisition is expected to enhance Tempus AI’s existing products and provide opportunities for expansion into new markets.
Analysts at TD Cowen have upgraded Tempus AI’s stock rating to Buy and raised the price target to $74, citing the favorable impact of the Ambry Genetics acquisition. The transaction involved a payment of $375 million in cash and $225 million in shares, with financing provided by Ares Management (NYSE:ARES)’s credit funds. Tempus AI’s recent developments demonstrate its commitment to leveraging advanced technologies for precision medicine and patient care. These moves, including the launch of olivia and the acquisition of Ambry Genetics, highlight Tempus AI’s strategic expansions and potential for growth.
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