Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Insider Melita Sun Jung Acquires 2,250 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Melita Sun Jung acquired 2,250 shares of the company’s stock in a transaction that occurred on Saturday, November 30th. The shares were bought at an average price of $5.11 per share, with a total value of $11,497.50. Following the transaction, the insider now owns 2,250 shares in the company, valued at $11,497.50. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Terns Pharmaceuticals Stock Up 3.1 %

NASDAQ TERN opened at $4.66 on Thursday. The company has a 50-day moving average of $5.51 and a 200-day moving average of $6.93. Terns Pharmaceuticals, Inc. has a 12 month low of $4.16 and a 12 month high of $11.40.

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

Analyst Upgrades and Downgrades

TERN has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Oppenheimer raised their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report 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 report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.30.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TERN. Dimensional Fund Advisors LP grew its position in Terns Pharmaceuticals by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock valued at $2,534,000 after acquiring an additional 31,875 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Terns Pharmaceuticals in the 2nd quarter valued at about $596,000. The Manufacturers Life Insurance Company grew its holdings in shares of Terns Pharmaceuticals by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after purchasing an additional 5,049 shares during the period. SG Americas Securities LLC acquired a new stake in Terns Pharmaceuticals during the 3rd quarter worth approximately $199,000. Finally, Exchange Traded Concepts LLC raised its holdings in Terns Pharmaceuticals by 7.9% in the third quarter. Exchange Traded Concepts LLC now owns 106,556 shares of the company’s stock valued at $889,000 after buying an additional 7,784 shares during the period. 98.26% of the stock is owned by hedge funds and other institutional investors.

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.