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Jennifer Doudna, a director at Tempus AI, Inc. (NASDAQ:TEM), recently sold 1,183 shares of the company's Class A common stock. The timing of this sale coincides with a significant 18.7% decline in the stock price over the past week, according to InvestingPro data. The transaction, which took place on December 11, was executed at a price of $41.81 per share, totaling approximately $49,461. Following this sale, Doudna retains ownership of 37,331 shares. While the company maintains strong liquidity with a current ratio of 2.69, InvestingPro analysis indicates the stock trades at a notably high Price/Book multiple of 120.15. This transaction was conducted under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. InvestingPro subscribers have access to 8 additional key insights about Tempus AI's financial health and valuation metrics.
In other recent news, Tempus AI's earnings report led to significant revisions in the company's price targets by various financial firms. Piper Sandler raised its price target from $40 to $70, maintaining a Neutral rating, while Stifel downgraded the stock from Buy to Hold but increased the price target to $65. Needham also raised its stock price target to $56 and maintained its Buy rating.
These adjustments followed Tempus AI's acquisition of Ambry Genetics, a strategic move that introduces immediate genomics capabilities and promises significant opportunities in data and applications over time. Tempus AI also partnered with Avacta Therapeutics to utilize AI in advancing oncology drug development, providing Avacta access to Tempus's comprehensive multimodal datasets.
Furthermore, 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 some of the latest developments around Tempus AI.
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