Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells 9,059 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 9,059 shares of Terns Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.80, for a total value of $52,542.20. Following the sale, the chief financial officer now owns 74,752 shares of the company’s stock, valued at approximately $433,561.60. This trade represents a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Terns Pharmaceuticals Trading Down 0.7 %

Shares of TERN traded down $0.04 during mid-day trading on Monday, hitting $5.71. The company’s stock had a trading volume of 1,252,259 shares, compared to its average volume of 1,424,849. The company’s 50-day moving average is $6.35 and its 200-day moving average is $7.41. Terns Pharmaceuticals, Inc. has a 52-week low of $4.32 and a 52-week high of $11.40. The firm has a market capitalization of $485.00 million, a price-to-earnings ratio of -4.84 and a beta of -0.31.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. As a group, sell-side analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in Terns Pharmaceuticals by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock worth $1,203,000 after purchasing an additional 64,018 shares in the last quarter. Telemark Asset Management LLC bought a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth approximately $2,502,000. Point72 Asset Management L.P. lifted its position in Terns Pharmaceuticals by 21.1% during the second 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after acquiring an additional 1,994 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Terns Pharmaceuticals in the third quarter valued at approximately $872,000. Institutional investors own 98.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TERN. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Oppenheimer increased their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, HC Wainwright restated a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Terns Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $18.30.

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.