Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Insider Sells $25,586.51 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Emil Kuriakose sold 4,481 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total value of $25,586.51. Following the completion of the sale, the insider now owns 54,269 shares of the company’s stock, valued at approximately $309,875.99. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Terns Pharmaceuticals Trading Down 0.7 %

Shares of Terns Pharmaceuticals stock opened at $5.71 on Tuesday. The stock has a fifty day simple moving average of $6.35 and a 200 day simple moving average of $7.41. Terns Pharmaceuticals, Inc. has a 12-month low of $4.32 and a 12-month high of $11.40. The company has a market capitalization of $485.00 million, a P/E ratio of -4.84 and a beta of -0.31.

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

Analysts Set New Price Targets

A number of brokerages have commented on TERN. Oppenheimer raised their price objective on 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 reissued a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. BMO Capital Markets restated an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Finally, HC Wainwright reiterated a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.30.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Terns Pharmaceuticals by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after acquiring an additional 64,018 shares in the last quarter. Rhumbline Advisers grew its stake in Terns Pharmaceuticals by 50.3% in the 2nd quarter. Rhumbline Advisers now owns 88,641 shares of the company’s stock valued at $604,000 after purchasing an additional 29,659 shares during the period. American Century Companies Inc. increased its position in shares of Terns Pharmaceuticals by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock valued at $437,000 after purchasing an additional 9,635 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Terns Pharmaceuticals by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock valued at $2,534,000 after purchasing an additional 31,875 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Terns Pharmaceuticals during the 2nd quarter worth $596,000. Hedge funds and other institutional investors 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.