Tempus AI’s chief legal officer Erik Phelps sells shares worth $400,960

Erik Phelps, the Executive Vice President and Chief Administrative and Legal Officer of Tempus AI , Inc. (NASDAQ:TEM), recently sold 5,934 shares of Class A Common Stock. The shares were sold at a weighted average price of $67.57, resulting in a total transaction value of $400,960. After this transaction, Phelps retains ownership of 214,662 shares in the company. The sale comes as TEM’s stock shows strong momentum, with a 67% gain over the past six months and trading near $69. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with technical indicators suggesting overbought conditions.

This sale was executed to cover statutory tax withholding obligations related to the vesting of restricted stock units, as mandated by Tempus AI’s equity incentive plans. The shares were sold in multiple transactions at prices ranging from $67.085 to $68.00. While the company maintains a healthy current ratio of 2.69 and operates with moderate debt levels, InvestingPro subscribers can access 8 additional key insights about TEM’s insider trading patterns and financial health metrics.

In other recent news, Tempus AI received an upgrade from TD Cowen, raising the price target to $74 following the acquisition of Ambry Genetics. TD Cowen believes this acquisition positions Tempus AI for enhanced product offerings and entry into new markets, as Ambry Genetics brings a profitable germline testing laboratory with over $300 million in revenue. The firm’s analysis suggests a larger revenue base and potential for both growth and margin expansion.

Additionally, Tempus AI announced the national launch of its personal health concierge app, olivia. This application aims to centralize patient health data and provide actionable AI-driven insights, marking a significant step in advancing precision medicine and enhancing patient care.

In collaboration news, Tempus AI recently entered a multi-year agreement with Genialis to validate new RNA-based biomarker algorithms across different cancer types. This partnership is expected to advance the development of predictive biomarkers and contribute to more precise and effective treatments.

These recent developments reflect Tempus AI’s strategic moves to enhance its capabilities and solidify its position in the precision medicine and patient care sectors by leveraging advanced technologies.

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