Terns Pharmaceuticals (NASDAQ:TERN) Earns Market Perform Rating from Analysts at William Blair

Investment analysts at William Blair began coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm set a “market perform” rating on the stock.

Other equities research analysts also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. HC Wainwright reissued a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, Oppenheimer raised their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.30.

Terns Pharmaceuticals Stock Down 1.9 %

TERN opened at $3.69 on Friday. The company has a fifty day simple moving average of $4.74 and a 200 day simple moving average of $6.52. The stock has a market cap of $313.42 million, a P/E ratio of -3.13 and a beta of -0.34. Terns Pharmaceuticals has a 12 month low of $3.65 and a 12 month high of $11.40.

Insider Buying and Selling

In other news, CEO Amy L. Burroughs acquired 15,450 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were purchased at an average cost of $7.15 per share, with a total value of $110,467.50. Following the acquisition, the chief executive officer now directly owns 19,099 shares in the company, valued at $136,557.85. This represents a 423.40 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total value of $25,586.51. Following the sale, the insider now directly owns 54,269 shares of the company’s stock, valued at $309,875.99. This represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 18,210 shares of company stock valued at $124,571 and sold 36,669 shares valued at $211,040. 15.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Candriam S.C.A. acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at $11,933,000. Acorn Capital Advisors LLC bought a new stake in Terns Pharmaceuticals during the fourth quarter worth $10,921,000. Soleus Capital Management L.P. lifted its stake in Terns Pharmaceuticals by 30.8% during the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock worth $45,109,000 after purchasing an additional 1,918,956 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Terns Pharmaceuticals by 44.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock valued at $26,323,000 after buying an additional 1,461,680 shares in the last quarter. Finally, Bellevue Group AG acquired a new stake in Terns Pharmaceuticals in the third quarter valued at approximately $8,691,000. Institutional investors and hedge funds 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.