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

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 6,240 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $35,692.80. Following the transaction, the director now directly owns 8,760 shares of the company’s stock, valued at approximately $50,107.20. This represents a 41.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 stock was sold at an average price of $5.79, for a total value of $50,720.40.

Terns Pharmaceuticals Stock Down 0.7 %

TERN stock opened at $5.71 on Tuesday. Terns Pharmaceuticals, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $11.40. The business has a 50 day moving average price of $6.35 and a 200 day moving average price of $7.41. The stock has a market cap of $485.00 million, a price-to-earnings ratio of -4.84 and a beta of -0.31.

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

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Terns Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after buying an additional 1,994 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Terns Pharmaceuticals by 26.0% in 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 lifted its stake in Terns Pharmaceuticals by 28.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after buying an additional 5,049 shares during the last quarter. Creative Planning lifted its stake in Terns Pharmaceuticals by 27.2% in the third quarter. Creative Planning now owns 25,310 shares of the company’s stock valued at $211,000 after buying an additional 5,409 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Terns Pharmaceuticals in the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Analyst Upgrades and Downgrades

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