Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Insider Sells 4,481 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Emil Kuriakose sold 4,481 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the transaction, the insider now owns 54,269 shares in the company, valued at approximately $309,875.99. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Terns Pharmaceuticals Stock Down 6.9 %

NASDAQ:TERN opened at $5.24 on Thursday. The firm has a 50 day moving average of $6.29 and a 200 day moving average of $7.38. Terns Pharmaceuticals, Inc. has a 52 week low of $4.32 and a 52 week high of $11.40. The stock has a market capitalization of $445.08 million, a price-to-earnings ratio of -4.44 and a beta of -0.31.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.05. As a group, analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TERN shares. JMP Securities reiterated a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Oppenheimer boosted their price target on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets restated an “outperform” rating and set a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.30.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC grew its stake in shares of Terns Pharmaceuticals by 110.2% during the third quarter. Virtu Financial LLC now owns 62,216 shares of the company’s stock worth $519,000 after acquiring an additional 32,624 shares during the last quarter. Geode Capital Management LLC boosted its stake in Terns Pharmaceuticals by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock worth $10,072,000 after purchasing an additional 85,617 shares in the last quarter. XTX Topco Ltd acquired a new stake in Terns Pharmaceuticals in the 3rd quarter worth approximately $148,000. Point72 Asset Management L.P. grew its position in Terns Pharmaceuticals by 0.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock worth $22,581,000 after purchasing an additional 17,139 shares during the last quarter. Finally, Polymer Capital Management HK LTD acquired a new position in Terns Pharmaceuticals during the 3rd quarter valued at approximately $200,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

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.