Terns Pharmaceuticals’ (TERN) Neutral Rating Reaffirmed at HC Wainwright

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “neutral” rating reissued by research analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $5.50 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 8.27% from the company’s current price.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets increased their target price on Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. UBS Group reduced their price objective on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Finally, JMP Securities decreased their price objective on Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.94.

Terns Pharmaceuticals Price Performance

Shares of TERN opened at $5.08 on Tuesday. Terns Pharmaceuticals has a 1-year low of $3.26 and a 1-year high of $13.51. The company has a market capitalization of $328.55 million, a P/E ratio of -4.00 and a beta of -0.63. The firm’s 50 day simple moving average is $6.23 and its 200 day simple moving average is $5.84.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, hitting analysts’ consensus estimates of ($0.29). On average, equities analysts anticipate that Terns Pharmaceuticals will post -1.46 earnings per share for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In other news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of Terns Pharmaceuticals stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.20, for a total value of $856,009.20. Following the transaction, the insider now owns 268,573 shares in the company, valued at $1,665,152.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 17.40% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Braidwell LP increased its stake in shares of Terns Pharmaceuticals by 54.2% in the third quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock worth $14,285,000 after buying an additional 997,700 shares during the period. Decheng Capital LLC bought a new stake in Terns Pharmaceuticals in the 4th quarter worth $4,636,000. Great Point Partners LLC increased its position in shares of Terns Pharmaceuticals by 102.8% in the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after acquiring an additional 664,076 shares during the period. Affinity Asset Advisors LLC purchased a new position in shares of Terns Pharmaceuticals in the third quarter valued at about $1,635,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Terns Pharmaceuticals during the fourth quarter valued at about $1,803,000. Institutional investors own 98.26% of the company’s stock.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.