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Andrew Polovin, the Executive Vice President and General Counsel of Tempus AI , Inc. (NASDAQ:TEM), a company currently valued at $10.2 billion, recently executed a stock sale as part of a pre-arranged transaction to cover tax obligations. The transaction comes as TEM shares have surged over 92% year-to-date and 67% in the past six months. On February 5, Polovin sold 7,717 shares of Tempus AI’s Class A Common Stock at a weighted average price of $67.57 per share. This sale was valued at approximately $521,437.
According to the filing, the transaction was mandated by the company’s equity incentive plans to fulfill minimum statutory tax withholding obligations, rather than being a discretionary sale by Polovin. Following this transaction, Polovin retains ownership of 237,238 shares in the company.
In other recent news, Tempus AI has been making significant strides in its operations. The company recently completed the acquisition of Ambry Genetics, a move that was favorably received by TD Cowen, leading to an upgrade of Tempus AI’s stock rating and an increase in the price target to $74. The acquisition brings a profitable germline testing laboratory to Tempus AI’s portfolio, contributing over $300 million in revenue and offering potential for growth and margin expansion.
The acquisition of Ambry Genetics is not the only development stirring interest. Tempus AI also announced the national launch of its personal health concierge app, Olivia. The AI-driven application centralizes patient health data, providing actionable insights and advancing precision medicine.
In a collaboration with Genialis, Tempus AI is set to validate new RNA-based biomarker algorithms across different cancer types, further solidifying its position in the precision medicine sector. The partnership aims to create a predictive biomarker for WEE1-targeted therapies, a key development in the field of cancer treatment.
These recent developments highlight Tempus AI’s strategic moves to enhance its product offerings and expand its market reach. Through acquisitions, app development, and fruitful collaborations, the company continues to make strides in advancing AI applications in healthcare.
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