Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Buys $4,999,995.00 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Hongbo Lu acquired 476,190 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the acquisition, the director now directly owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ TERN traded up $0.22 during mid-day trading on Tuesday, hitting $9.63. The company’s stock had a trading volume of 1,714,418 shares, compared to its average volume of 1,255,548. The stock has a market cap of $622.84 million, a price-to-earnings ratio of -7.64 and a beta of -0.37. The company’s fifty day simple moving average is $8.15 and its 200-day simple moving average is $6.97. Terns Pharmaceuticals, Inc. has a one year low of $3.26 and a one year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. On average, sell-side analysts predict that Terns Pharmaceuticals, Inc. will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter valued at $106,000. Franklin Resources Inc. grew its position in shares of Terns Pharmaceuticals by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock valued at $14,978,000 after purchasing an additional 159,013 shares during the period. Decheng Capital LLC bought a new stake in Terns Pharmaceuticals during the 4th quarter worth approximately $4,636,000. Pale Fire Capital SE raised its holdings in Terns Pharmaceuticals by 222.4% during the 4th quarter. Pale Fire Capital SE now owns 49,014 shares of the company’s stock worth $318,000 after buying an additional 33,812 shares during the period. Finally, Great Point Partners LLC lifted its stake in Terns Pharmaceuticals by 102.8% in the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after buying an additional 664,076 shares in the last quarter. Institutional investors own 98.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.