US stock futures dip as Nvidia earnings spark little cheer
Ryan M. Bartolucci, the Chief Accounting Officer of Tempus AI , Inc. (NASDAQ:TEM), recently sold shares of the company valued at approximately $201,532. The transactions were disclosed in a recent SEC filing. The sale comes as the $14.08 billion market cap company’s stock has seen a 14% decline over the past week, though InvestingPro data shows an impressive 127% gain year-to-date.
On February 19, Bartolucci sold 818 shares of Tempus AI’s Class A Common Stock at prices ranging from $81.83 to $82.36, totaling $66,972. The price per share was calculated as a weighted average, with transactions occurring within the specified range. According to InvestingPro analysis, the stock’s RSI suggests overbought conditions, one of 12 key insights available to subscribers.
The following day, on February 20, Bartolucci sold an additional 1,682 shares at a fixed price of $80 per share, amounting to $134,560. This sale was conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan for trading stocks to avoid any accusations of insider trading.
Following these transactions, Bartolucci holds 44,500 shares of Tempus AI. The sales were made to cover tax withholding obligations related to the vesting of restricted stock units and were not discretionary.
In other recent news, Tempus AI has made significant strides with its recent acquisition of Ambry Genetics, a company with over $300 million in revenue. This strategic move is expected to enhance Tempus AI’s product offerings and market reach, as noted by TD Cowen, which upgraded the stock to a Buy rating and increased the price target to $74. The acquisition positions Tempus AI for improved free cash flow despite Ambry’s slower growth rate. Additionally, the company has launched a new AI-enabled health concierge app named olivia, which aims to centralize patient health data and provide actionable insights. The app is designed to integrate data from over 1,000 health systems and various health devices, offering a comprehensive health management tool for patients. Founder and CEO Eric Lefkofsky highlighted the app’s potential to improve patient outcomes through data and AI. The market has reacted positively to these developments, reflecting investor confidence in Tempus AI’s strategic direction and growth potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.