Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells 8,129 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 8,129 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $46,497.88. Following the completion of the transaction, the chief financial officer now owns 83,811 shares in the company, valued at approximately $479,398.92. This trade represents a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Terns Pharmaceuticals Trading Down 0.7 %

Shares of NASDAQ:TERN opened at $5.71 on Tuesday. The stock has a 50 day moving average of $6.35 and a 200 day moving average of $7.41. The company has a market cap of $485.00 million, a PE ratio of -4.84 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 posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. Equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of TERN. nVerses Capital LLC bought a new position in shares of Terns Pharmaceuticals in the third quarter worth about $48,000. Sio Capital Management LLC purchased a new position in Terns Pharmaceuticals in the 3rd quarter worth approximately $83,000. Entropy Technologies LP bought a new position in Terns Pharmaceuticals in the 3rd quarter worth approximately $106,000. Bleakley Financial Group LLC grew its holdings in Terns Pharmaceuticals by 26.0% during the 3rd 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 in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Terns Pharmaceuticals by 78.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock valued at $113,000 after buying an additional 5,935 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.