Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.30.

Several equities research analysts have recently commented on TERN shares. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. William Blair began coverage on shares of Terns Pharmaceuticals in a report on Friday, February 28th. They set a “market perform” rating for the company. Oppenheimer lifted their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th.

Terns Pharmaceuticals Price Performance

TERN stock opened at $3.51 on Friday. The company has a market cap of $298.14 million, a P/E ratio of -2.97 and a beta of -0.34. Terns Pharmaceuticals has a 1 year low of $3.27 and a 1 year high of $11.40. The stock’s fifty day moving average price is $4.60 and its 200-day moving average price is $6.45.

Insider Buying and Selling

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs acquired 15,450 shares of the stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $7.15 per share, for a total transaction of $110,467.50. Following the completion of the transaction, the chief executive officer now directly owns 19,099 shares of the company’s stock, valued at $136,557.85. This trade represents a 423.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the transaction, the insider now directly owns 54,269 shares of the company’s stock, valued at $309,875.99. The trade was a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,669 shares of company stock worth $211,040. 15.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several large investors have recently added to or reduced their stakes in TERN. Soleus Capital Management L.P. lifted its position in Terns Pharmaceuticals by 30.8% in the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock worth $45,109,000 after buying an additional 1,918,956 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Terns Pharmaceuticals by 44.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock valued at $26,323,000 after acquiring an additional 1,461,680 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Terns Pharmaceuticals by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company’s stock worth $21,437,000 after acquiring an additional 512,768 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Terns Pharmaceuticals by 0.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock worth $22,581,000 after purchasing an additional 17,139 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Terns Pharmaceuticals by 30.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company’s stock valued at $14,592,000 after purchasing an additional 617,009 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

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.