Terns Pharmaceuticals (NASDAQ:TERN) Trading 3.5% Higher – Here’s Why

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

Analyst Ratings Changes

Several research analysts have recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Oppenheimer assumed coverage on Terns Pharmaceuticals in a report on Thursday, October 31st. They set an “outperform” rating and a $82.00 target price on the stock. HC Wainwright lifted their price objective on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, JMP Securities boosted their target price on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Terns Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Terns Pharmaceuticals Trading Up 2.1 %

The firm has a market cap of $502.00 million, a P/E ratio of -4.91 and a beta of -0.32. The company’s fifty day moving average price is $7.54 and its two-hundred day moving average price is $7.50.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results 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. On average, analysts predict that Terns Pharmaceuticals, Inc. will post -1.22 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Terns Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Terns Pharmaceuticals by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after purchasing an additional 11,535 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Terns Pharmaceuticals by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after buying an additional 2,261 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of Terns Pharmaceuticals in the first quarter valued at $101,000. Janus Henderson Group PLC increased its position in shares of Terns Pharmaceuticals by 40.6% during the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after buying an additional 578,500 shares during the period. Finally, Walleye Trading LLC purchased a new stake in Terns Pharmaceuticals in the 1st quarter worth approximately $98,000. 98.26% of the stock is owned by 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.