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

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 8,760 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.79, for a total transaction of $50,720.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN traded down $0.04 during mid-day trading on Monday, hitting $5.71. The stock had a trading volume of 1,252,259 shares, compared to its average volume of 1,424,849. Terns Pharmaceuticals, Inc. has a twelve month low of $4.32 and a twelve month high of $11.40. The stock has a market cap of $485.00 million, a price-to-earnings ratio of -4.84 and a beta of -0.31. The company’s 50 day simple moving average is $6.35 and its 200 day simple moving average is $7.41.

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

Hedge Funds Weigh In On Terns Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Bellevue Group AG acquired a new position in Terns Pharmaceuticals in the 3rd quarter valued at about $8,691,000. Point72 Asset Management L.P. grew its position in shares of Terns Pharmaceuticals by 21.1% in 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 shares of Terns Pharmaceuticals during the third quarter worth approximately $2,502,000. Walleye Capital LLC acquired a new stake in Terns Pharmaceuticals during the 3rd quarter worth approximately $1,550,000. Finally, Cinctive Capital Management LP bought a new stake in Terns Pharmaceuticals in the 3rd quarter valued at $1,406,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.