Terns Pharmaceuticals (NASDAQ:TERN) Shares Up 3.5% – Here’s What Happened

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) shares traded up 3.5% on Tuesday . The company traded as high as $6.03 and last traded at $5.99. 57,669 shares were traded during trading, a decline of 95% from the average session volume of 1,281,205 shares. The stock had previously closed at $5.79.

Wall Street Analyst Weigh In

TERN has been the subject of a number of recent analyst reports. Oppenheimer began coverage on Terns Pharmaceuticals in a research report on Thursday, October 31st. They set an “outperform” rating and a $82.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. JMP Securities lifted their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 10th. Finally, HC Wainwright raised their price objective on Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.25.

Terns Pharmaceuticals Price Performance

The firm has a market cap of $502.00 million, a PE ratio of -4.91 and a beta of -0.32. The business has a 50-day simple moving average of $7.54 and a 200 day simple moving average of $7.50.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.05. On average, equities analysts forecast that Terns Pharmaceuticals, Inc. will post -1.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares in the company, valued at approximately $1,011,340. This represents a 9.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Hongbo Lu purchased 476,190 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the purchase, the director now directly owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Terns Pharmaceuticals by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after purchasing an additional 11,535 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Terns Pharmaceuticals by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after acquiring an additional 2,261 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Terns Pharmaceuticals during the 1st quarter worth $101,000. Janus Henderson Group PLC raised its holdings in shares of Terns Pharmaceuticals by 40.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock worth $13,131,000 after purchasing an additional 578,500 shares during the period. Finally, Walleye Trading LLC purchased a new stake in Terns Pharmaceuticals during the first quarter worth approximately $98,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Company Profile

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.