Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Insider Sells 4,481 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total value of $25,586.51. Following the transaction, the insider now owns 54,269 shares in the company, valued at approximately $309,875.99. The trade was a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Terns Pharmaceuticals Stock Performance

Shares of Terns Pharmaceuticals stock traded down $0.04 on Monday, reaching $5.71. The company had a trading volume of 1,252,259 shares, compared to its average volume of 1,424,849. The firm’s 50 day moving average price is $6.35 and its two-hundred day moving average price 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 cap of $485.00 million, a PE ratio of -4.84 and a beta of -0.31.

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

Hedge Funds Weigh In On Terns Pharmaceuticals

Several hedge funds have recently bought and sold shares of TERN. nVerses Capital LLC acquired a new stake in shares of Terns Pharmaceuticals during the third quarter worth about $48,000. Sio Capital Management LLC purchased a new stake in Terns Pharmaceuticals during the 3rd quarter worth approximately $83,000. Entropy Technologies LP acquired a new stake in Terns Pharmaceuticals during the 3rd quarter worth approximately $106,000. Bleakley Financial Group LLC boosted its position in Terns Pharmaceuticals by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after buying an additional 2,751 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Terns Pharmaceuticals by 78.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock worth $113,000 after acquiring an additional 5,935 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on TERN shares. HC Wainwright reissued a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Oppenheimer raised their price target 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. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average 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.