Insider Buying: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Purchases 15,450 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy L. Burroughs acquired 15,450 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average price of $7.15 per share, for a total transaction of $110,467.50. Following the completion of the acquisition, the chief executive officer now directly owns 19,099 shares of the company’s stock, valued at $136,557.85. The trade was a 423.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Terns Pharmaceuticals Trading Up 0.5 %

TERN traded up $0.03 during trading hours on Monday, hitting $6.58. 858,008 shares of the company’s stock were exchanged, compared to its average volume of 1,319,883. The firm has a market cap of $558.91 million, a P/E ratio of -5.49 and a beta of -0.36. Terns Pharmaceuticals, Inc. has a 12-month low of $4.32 and a 12-month high of $11.40. The firm has a 50 day moving average of $6.97 and a 200 day moving average of $7.53.

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

Institutional Trading of Terns Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Terns Pharmaceuticals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,994 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Terns Pharmaceuticals by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after purchasing an additional 2,261 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Terns Pharmaceuticals by 26.0% in the third 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 last quarter. The Manufacturers Life Insurance Company lifted its holdings in Terns Pharmaceuticals by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after buying an additional 5,049 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Terns Pharmaceuticals by 27.2% during the 3rd quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after acquiring an additional 5,409 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Analysts Set New Price Targets

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