Terns Pharmaceuticals (NASDAQ:TERN) Shares Gap Up to $8.95

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) shares gapped up prior to trading on Monday . The stock had previously closed at $8.95, but opened at $9.26. Terns Pharmaceuticals shares last traded at $9.36, with a volume of 169,297 shares trading hands.

Analysts Set New Price Targets

TERN has been the subject of a number of research reports. JMP Securities increased their target price on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets reissued an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Terns Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $15.90.

Terns Pharmaceuticals Trading Up 7.8 %

The company has a 50 day simple moving average of $8.07 and a 200 day simple moving average of $6.94. The stock has a market cap of $624.13 million, a P/E ratio of -7.56 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. As a group, sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.3 earnings per share for the current year.

Insider Transactions at Terns Pharmaceuticals

In related news, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $7.68, for a total transaction of $47,178.24. Following the sale, the director now owns 23,857 shares in the company, valued at $183,221.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the sale, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $7.68, for a total value of $47,178.24. Following the transaction, the director now owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. The disclosure for this sale can be found here. Insiders sold a total of 84,354 shares of company stock worth $839,288 in the last three months. Insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of TERN. Simplicity Wealth LLC acquired a new position in shares of Terns Pharmaceuticals during the 2nd quarter worth approximately $72,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Terns Pharmaceuticals by 66.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock worth $78,000 after buying an additional 4,742 shares during the last quarter. Walleye Trading LLC acquired a new stake in shares of Terns Pharmaceuticals during the 1st quarter worth about $98,000. Kennedy Capital Management LLC bought a new stake in shares of Terns Pharmaceuticals during the 1st quarter worth about $101,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at about $106,000. Institutional investors own 98.26% of the company’s stock.

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.