Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells $46,497.88 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 8,129 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $46,497.88. Following the transaction, the chief financial officer now owns 83,811 shares in the company, valued at approximately $479,398.92. This represents a 8.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Terns Pharmaceuticals Stock Down 6.9 %

Shares of Terns Pharmaceuticals stock opened at $5.24 on Thursday. The company has a market cap of $445.08 million, a P/E ratio of -4.44 and a beta of -0.31. The firm’s 50 day moving average price is $6.29 and its 200-day moving average price is $7.38. Terns Pharmaceuticals, Inc. has a 52-week low of $4.32 and a 52-week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.05. As a group, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Oppenheimer increased their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research 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 company. According to data from MarketBeat, Terns Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $18.30.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in Terns Pharmaceuticals in the third quarter worth about $48,000. Sio Capital Management LLC purchased a new position in shares of Terns Pharmaceuticals in the 3rd quarter valued at approximately $83,000. Entropy Technologies LP acquired a new stake in Terns Pharmaceuticals in the 3rd quarter worth approximately $106,000. Bleakley Financial Group LLC grew its position in Terns Pharmaceuticals by 26.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after purchasing an additional 2,751 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Terns Pharmaceuticals by 78.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock valued at $113,000 after purchasing an additional 5,935 shares in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

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.