Terns Pharmaceuticals (NASDAQ:TERN) Trading 7.3% Higher

Terns Pharmaceuticals, Inc. (NASDAQ:TERN)’s stock price was up 7.3% on Monday . The stock traded as high as $7.87 and last traded at $7.78. Approximately 856,855 shares were traded during trading, a decline of 14% from the average daily volume of 998,493 shares. The stock had previously closed at $7.25.

Analyst Ratings Changes

TERN has been the subject of several research reports. JMP Securities reiterated a “market outperform” rating and set a $15.00 price objective on shares of Terns Pharmaceuticals in a research note on Tuesday, April 30th. HC Wainwright reiterated a “neutral” rating and set a $5.50 price target on shares of Terns Pharmaceuticals in a research note on Tuesday, May 14th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $19.00 price target on shares of Terns Pharmaceuticals in a research report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.50.

Terns Pharmaceuticals Stock Performance

The stock has a market capitalization of $509.68 million, a price-to-earnings ratio of -6.25 and a beta of -0.37. The business has a 50-day moving average of $7.67 and a 200-day moving average of $6.79.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. Equities analysts predict that Terns Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jill M. Quigley sold 6,143 shares of the firm’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 completion of the transaction, the director now directly owns 23,857 shares in the company, valued at approximately $183,221.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Terns Pharmaceuticals news, Director Carl L. Gordon sold 50,976 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $10.00, for a total transaction of $509,760.00. Following the sale, the director now owns 756,258 shares in the company, valued at approximately $7,562,580. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $7.68, for a total value of $47,178.24. Following the completion of 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 own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in Terns Pharmaceuticals by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after acquiring an additional 159,013 shares in the last quarter. Janus Henderson Group PLC raised its stake in Terns Pharmaceuticals by 40.6% in the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after buying an additional 578,500 shares in the last quarter. Great Point Partners LLC boosted its position in shares of Terns Pharmaceuticals by 102.8% during the 4th quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock worth $8,502,000 after acquiring an additional 664,076 shares in the last quarter. Decheng Capital LLC purchased a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at about $4,636,000. Finally, Russell Investments Group Ltd. lifted its stake in Terns Pharmaceuticals by 127.9% during the first quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after purchasing an additional 355,224 shares during the last quarter. 98.26% of the stock is currently owned by hedge funds and other 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.