Terns Pharmaceuticals (NASDAQ:TERN) Shares Up 3.5% – What’s Next?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN)’s stock price shot up 3.5% during mid-day trading on Tuesday . The company traded as high as $6.03 and last traded at $5.99. 57,669 shares changed hands during trading, a decline of 95% from the average session volume of 1,281,205 shares. The stock had previously closed at $5.79.

Analysts Set New Price Targets

Several analysts recently weighed in on TERN shares. JMP Securities lifted their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a report on Tuesday, September 10th. Oppenheimer started coverage on Terns Pharmaceuticals in a report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price objective on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. Finally, HC Wainwright increased their price objective on Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One equities 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.70.

Terns Pharmaceuticals Price Performance

The stock has a market cap of $538.52 million, a price-to-earnings ratio of -5.37 and a beta of -0.32. The firm’s 50-day moving average is $7.39 and its 200 day moving average is $7.49.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.05. On average, sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.22 EPS for the current year.

Insider Activity

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 17,235 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.00, for a total value of $172,350.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $150,000. This represents a 53.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the transaction, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. The trade was a 9.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds have recently bought and sold shares of TERN. Point72 Asset Management L.P. lifted its stake in 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 worth $22,581,000 after acquiring an additional 17,139 shares in the last quarter. Vanguard Group Inc. boosted its position in Terns Pharmaceuticals by 0.5% during 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 period. Janus Henderson Group PLC boosted its holdings in shares of Terns Pharmaceuticals by 40.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock worth $13,131,000 after buying an additional 578,500 shares during the period. Geode Capital Management LLC grew its position in shares of Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock valued at $10,072,000 after purchasing an additional 85,617 shares during the last quarter. Finally, Bellevue Group AG acquired a new stake in Terns Pharmaceuticals in the 3rd quarter valued at approximately $8,691,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Company Profile

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.