Terns Pharmaceuticals’ (TERN) Market Perform Rating Reiterated at William Blair

William Blair reissued their market perform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report report published on Friday,RTT News reports.

Other equities research analysts also recently issued reports about the company. Oppenheimer lifted their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $18.30.

Terns Pharmaceuticals Stock Up 6.7 %

Shares of NASDAQ TERN opened at $3.35 on Friday. Terns Pharmaceuticals has a 12 month low of $3.08 and a 12 month high of $11.40. The company has a market cap of $284.55 million, a P/E ratio of -2.84 and a beta of -0.30. The business’s 50 day moving average is $4.04 and its two-hundred day moving average is $6.05.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. Sell-side analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark J. Vignola sold 9,059 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.80, for a total transaction of $52,542.20. Following the transaction, the chief financial officer now owns 74,752 shares of the company’s stock, valued at $433,561.60. This represents a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The stock was 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. 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 three months, insiders sold 36,669 shares of company stock valued at $211,040. Insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TERN. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Terns Pharmaceuticals during the third quarter worth approximately $442,000. Intech Investment Management LLC bought a new stake in shares of Terns Pharmaceuticals during the 3rd quarter valued at $145,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Terns Pharmaceuticals by 1.3% in 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 during the period. Telemark Asset Management LLC acquired a new position in shares of Terns Pharmaceuticals in the 3rd quarter valued at $2,502,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Terns Pharmaceuticals by 191.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 66,100 shares of the company’s stock worth $551,000 after purchasing an additional 43,455 shares during the last quarter. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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.