Bullish indicating open at $55-$60, IPO prices at $37
Tempus AI , Inc. (NASDAQ:TEM) Chief Operating Officer Ryan Fukushima recently sold a significant portion of his holdings in the company, according to a recent SEC filing. The timing is notable as the stock has surged nearly 93% year-to-date, with InvestingPro data indicating overbought conditions. The transactions, executed under a pre-established trading plan, involved the sale of 36,114 shares of Class A common stock over two days.
On February 4, Fukushima sold a total of 20,000 shares at prices ranging from $61.48 to $64.37, resulting in proceeds of approximately $1.25 million. The following day, he sold an additional 15,114 shares at a price of $67.57, generating approximately $1.02 million. These sales were conducted as part of a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. The transactions occurred as Tempus AI, now valued at $10.9 billion, trades near its 52-week high of $79.49.
After these transactions, Fukushima retains direct ownership of 947,328 shares in the company. Additionally, he holds indirect ownership of shares through the Ryan Fukushima Irrevocable Family Trust and his spouse. These transactions were partly aimed at covering statutory tax withholding obligations related to the vesting of restricted stock units, as mandated by Tempus AI’s equity incentive plans. Get access to 10+ additional exclusive InvestingPro Tips and comprehensive financial metrics to make more informed investment decisions.
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 TD Cowen, which upgraded Tempus AI’s stock rating and raised the price target to $74, believes will enhance the company’s product offerings and allow for entry into new markets. This acquisition brings a profitable germline testing laboratory with over $300 million in revenue to Tempus AI’s portfolio, positioning the company for potential growth and margin expansion.
In a separate development, Tempus AI launched a personal health concierge app, Olivia. The app is designed to aggregate patient health data from over 1,000 health systems and various health devices, providing actionable AI-driven insights. This initiative marks a significant step in advancing precision medicine and enhancing patient care.
Finally, Tempus AI has entered into a multi-year agreement with Genialis to validate new RNA-based biomarker algorithms across different cancer types. This collaboration is expected to contribute to the development of more precise and effective treatments. These developments mark a period of considerable activity for Tempus AI, with the company making strategic moves to bolster its position in the market.
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