Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley Sells 6,240 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 6,240 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $35,692.80. Following the completion of the sale, the director now owns 8,760 shares of the company’s stock, valued at $50,107.20. The trade was a 41.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Jill M. Quigley also recently made the following trade(s):

• On Monday, January 6th, Jill M. Quigley sold 8,760 shares of Terns Pharmaceuticals stock. The shares were sold at an average price of $5.79, for a total transaction of $50,720.40.

Terns Pharmaceuticals Trading Down 1.4 %

NASDAQ TERN opened at $5.63 on Wednesday. The firm’s fifty day simple moving average is $6.32 and its two-hundred day simple moving average is $7.40. The firm has a market capitalization of $478.21 million, a P/E ratio of -4.77 and a beta of -0.31. Terns Pharmaceuticals, Inc. has a 12-month low of $4.32 and a 12-month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. As a group, sell-side analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Terns Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Terns Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,994 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after buying an additional 2,751 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Terns Pharmaceuticals by 28.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after acquiring an additional 5,049 shares during the period. Creative Planning raised its stake in Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after acquiring an additional 5,409 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Terns Pharmaceuticals during the 3rd quarter worth about $48,000. 98.26% of the stock is 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.