Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley Sells 8,760 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 8,760 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.79, for a total transaction of $50,720.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN traded down $0.04 during mid-day trading on Monday, hitting $5.71. 1,252,259 shares of the stock were exchanged, compared to its average volume of 1,424,849. The company has a market cap of $485.00 million, a P/E ratio of -4.84 and a beta of -0.31. Terns Pharmaceuticals, Inc. has a twelve month low of $4.32 and a twelve month high of $11.40. The stock’s fifty day simple moving average is $6.35 and its two-hundred day simple moving average is $7.41.

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, beating the consensus estimate of ($0.33) by $0.05. As a group, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TERN has been the subject of several recent research reports. Oppenheimer increased their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. JMP Securities restated a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bellevue Group AG acquired a new stake in Terns Pharmaceuticals in the 3rd quarter valued at about $8,691,000. Point72 Asset Management L.P. grew its stake in shares of Terns Pharmaceuticals by 21.1% during the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock valued at $18,321,000 after purchasing an additional 469,176 shares during the last quarter. Telemark Asset Management LLC bought a new position in Terns Pharmaceuticals in the 3rd quarter worth approximately $2,502,000. Walleye Capital LLC acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth $1,550,000. Finally, Cinctive Capital Management LP acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth $1,406,000. Institutional investors and hedge funds 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.