Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives Average Rating of “Moderate Buy” from Analysts

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.30.

TERN has been the topic of several recent research reports. William Blair started coverage on Terns Pharmaceuticals in a research report on Friday. They set a “market perform” rating on the stock. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. HC Wainwright restated a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, Oppenheimer raised their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the sale, the insider now owns 54,269 shares of the company’s stock, valued at approximately $309,875.99. The trade was a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark J. Vignola sold 8,129 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $46,497.88. Following the sale, the chief financial officer now directly owns 83,811 shares of the company’s stock, valued at approximately $479,398.92. This represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 18,210 shares of company stock worth $124,571 and have sold 36,669 shares worth $211,040. 15.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Soleus Capital Management L.P. raised its stake in shares of Terns Pharmaceuticals by 30.8% during the 4th quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock valued at $45,109,000 after buying an additional 1,918,956 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Terns Pharmaceuticals by 44.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock valued at $26,323,000 after purchasing an additional 1,461,680 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Terns Pharmaceuticals by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company’s stock valued at $21,437,000 after purchasing an additional 512,768 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Terns Pharmaceuticals by 0.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock valued at $22,581,000 after purchasing an additional 17,139 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Terns Pharmaceuticals by 30.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company’s stock valued at $14,592,000 after purchasing an additional 617,009 shares in the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Down 1.9 %

Shares of NASDAQ TERN opened at $3.69 on Friday. The firm has a market capitalization of $313.42 million, a P/E ratio of -3.13 and a beta of -0.34. The stock’s 50-day simple moving average is $4.74 and its two-hundred day simple moving average is $6.52. Terns Pharmaceuticals has a twelve month low of $3.65 and a twelve month high of $11.40.

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.