Tempus AI COO Ryan Fukushima sells shares valued at $5.1 million

Published 14/12/2024, 00:58
Tempus AI COO Ryan Fukushima sells shares valued at $5.1 million

Ryan Fukushima, Chief Operating Officer of Tempus AI, Inc. (NASDAQ:TEM), recently executed a series of stock sales amounting to $5.1 million, according to a recent SEC filing. The transactions, conducted on December 11, involved the sale of Class A Common Stock at prices ranging from $40.86 to $43.59 per share. The stock, which has seen an 18.7% decline over the past week according to InvestingPro data, is currently trading near its Fair Value estimate. Following these sales, Fukushima holds 1,007,207 shares directly. The transactions were made under a pre-established trading plan, as outlined in the filing. InvestingPro data shows the company maintains healthy liquidity with a current ratio of 2.69 and has achieved impressive revenue growth of 32.1% over the last twelve months. Discover more insights about TEM with 8 additional ProTips available on InvestingPro.

In other recent news, a series of developments have been reported concerning Tempus AI. Earnings reports have led to several financial firms adjusting their outlooks on the company. Piper Sandler increased Tempus AI's price target from $40 to $70, maintaining a Neutral rating. Stifel downgraded Tempus AI from Buy to Hold, but lifted the price target to $65. Needham, on the other hand, raised its price target to $56, reiterating its Buy rating.

These adjustments come after Tempus AI's acquisition of Ambry Genetics, a move seen as strategic for introducing immediate genomics capabilities and promising significant opportunities in data and applications over time. Tempus AI has also partnered with Avacta Therapeutics to use AI in advancing oncology drug development, which will provide Avacta access to Tempus's comprehensive multimodal datasets.

Additionally, Tempus AI's Tempus ECG-AF device, utilizing artificial intelligence to identify patients at a higher risk of atrial fibrillation/flutter, has recently received FDA clearance. These are some of the recent developments surrounding Tempus AI.

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