Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola Sells 10,000 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ TERN opened at $9.51 on Friday. Terns Pharmaceuticals, Inc. has a 1 year low of $3.26 and a 1 year high of $11.40. The firm has a 50-day moving average of $8.02 and a 200 day moving average of $6.94.

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, beating analysts’ consensus estimates of ($0.35) by $0.04. On average, equities analysts forecast that Terns Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. lifted its position in Terns Pharmaceuticals by 21.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock valued at $18,321,000 after acquiring an additional 469,176 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Terns Pharmaceuticals by 7.4% in the fourth quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after purchasing an additional 159,013 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Terns Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after purchasing an additional 11,535 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Terns Pharmaceuticals by 40.6% during 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 during the last quarter. Finally, Great Point Partners LLC increased its holdings in Terns Pharmaceuticals by 102.8% in the 4th quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock worth $8,502,000 after buying an additional 664,076 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TERN shares. JMP Securities boosted their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research report on Tuesday. BMO Capital Markets reissued an “outperform” rating and issued a $19.00 target price 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 given a buy rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $14.50.

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.