Bradley A. Keywell, a significant shareholder in Tempus AI, Inc. (NASDAQ:TEM), recently sold a substantial portion of the company's Class A Common Stock. The timing is notable as InvestingPro data shows the stock has declined nearly 19% in the past week. On December 11, Keywell disposed of a total of 395,800 shares, generating approximately $16.9 million. The shares were sold at prices ranging from $42.00 to $43.89. Following these transactions, Keywell retains ownership of 16,164,449 shares, held indirectly through BK TL21 LLC, where he is the sole manager and member. According to InvestingPro, Tempus maintains strong liquidity with a current ratio of 2.69, though analysts don't expect profitability this year. The stock currently trades at a significant premium with a Price/Book ratio of 126.56. Get access to 8 more exclusive InvestingPro Tips for comprehensive insider trading analysis.
In other recent news, Tempus AI has seen significant activity in the financial sector. Following the company's third-quarter earnings report, Piper Sandler increased Tempus AI's price target from $40 to $70, while maintaining a neutral rating. The firm's adjustment does not account for potential impacts from Tempus AI's acquisition of Ambry Genetics. Stifel downgraded Tempus AI's stock from Buy to Hold, but raised the price target to $65. Needham, on the other hand, raised its stock price target to $56 and maintained its Buy rating.
Tempus AI's recent acquisition of Ambry Genetics is considered a strategic move, providing immediate genomics capabilities and promising significant opportunities in data and applications over time. The company has also partnered with Avacta Therapeutics to utilize AI in advancing oncology drug development.
Recently, Tempus AI's Tempus ECG-AF device, which uses artificial intelligence to identify patients at higher risk of atrial fibrillation/flutter, received FDA clearance. These are the recent developments surrounding Tempus AI.
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