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CHICAGO—James William Rogers (NYSE:ROG), the Chief Financial 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, Rogers disposed of 82,025 shares of Class A Common Stock on December 11, 2024, generating a total of $3,511,957. The sales were executed at prices ranging from $40.83 to $43.63 per share. The transaction comes as TEM shares have declined nearly 19% over the past week, according to InvestingPro data.
Following these transactions, Rogers now holds 231,280 shares directly. The sales were conducted as part of a previously established Rule 10b5-1 trading plan, which allows corporate insiders to set up a predetermined plan to sell company stock in a manner that avoids insider trading concerns. Analysts maintain price targets ranging from $50 to $74 for the stock, suggesting potential upside from current levels.
Tempus AI, based in Chicago, is a technology company specializing in data processing and computer programming services. The company, currently valued at $7.3 billion, has demonstrated strong revenue growth of 32% over the last twelve months, while maintaining a healthy liquidity position with current assets exceeding short-term obligations by 2.7 times.
In other recent news, Tempus AI's financial and strategic maneuvers have been garnering attention. The company's latest earnings report prompted Piper Sandler to increase Tempus AI's stock price target from $40 to $70, while maintaining a Neutral rating. Stifel, however, downgraded Tempus AI's stock from Buy to Hold but increased the price target to $65. Needham raised its own price target for Tempus AI to $56, holding onto its Buy rating.
Tempus AI's recent acquisition of genetics firm Ambry is seen as a promising strategic move, expected to introduce immediate genomics capabilities. Furthermore, Tempus AI has entered a partnership with Avacta Therapeutics to utilize AI in advancing oncology drug development. This collaboration will grant Avacta access to Tempus AI's comprehensive multimodal datasets.
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. Additionally, the company has invested $36 million in Personalis (NASDAQ:PSNL), Inc., acquiring shares and exercising warrants for additional stock. Lastly, 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 for Tempus AI.
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