Tempus AI EVP Andrew Polovin sells shares worth $2.18 million

Published 14/12/2024, 00:58
Tempus AI EVP Andrew Polovin sells shares worth $2.18 million

Following the transactions, Polovin holds 246,085 shares in the company. The sales were conducted under a Rule 10b5-1 trading plan, which Polovin adopted on September 6, 2024. This type of trading plan allows company insiders to set up a predetermined schedule for selling stocks to avoid any accusations of insider trading. InvestingPro analysis shows Tempus AI maintains strong liquidity with a current ratio of 2.69, though the stock trades at a notably high Price/Book multiple of 120.15. Subscribers can access additional insights and 8 more ProTips about TEM's financial health and valuation metrics. InvestingPro analysis shows Tempus AI maintains strong liquidity with a current ratio of 2.69, though the stock trades at a notably high Price/Book multiple of 120.15. Subscribers can access additional insights and 8 more ProTips about TEM's financial health and valuation metrics.

Following the transactions, Polovin holds 246,085 shares in the company. The sales were conducted under a Rule 10b5-1 trading plan, which Polovin adopted on September 6, 2024. This type of trading plan allows company insiders to set up a predetermined schedule for selling stocks to avoid any accusations of insider trading.

In other recent news, Tempus AI has been the subject of several noteworthy developments. Following the company's recent earnings report, Piper Sandler increased Tempus AI's stock price target from $40 to $70, while maintaining a Neutral rating. Stifel downgraded Tempus AI's stock from Buy to Hold, but raised the price target to $65. Needham, on the other hand, lifted its stock price target to $56, maintaining its Buy rating.

These adjustments followed Tempus AI's acquisition of genetics firm Ambry and the FDA clearance of its Tempus ECG-AF device, which uses artificial intelligence to identify patients at higher risk of atrial fibrillation/flutter. Additionally, Tempus AI has entered a strategic partnership with Avacta Therapeutics to leverage AI in advancing oncology drug development.

The company'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. Tempus AI has also invested $36 million in Personalis (NASDAQ:PSNL), Inc., acquiring shares and exercising warrants for additional stock. These are the recent developments surrounding Tempus AI.

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