Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells 8,129 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 8,129 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total transaction of $46,497.88. Following the transaction, the chief financial officer now owns 83,811 shares of the company’s stock, valued at approximately $479,398.92. The trade was a 8.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Terns Pharmaceuticals Stock Down 0.7 %

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

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TERN shares. Oppenheimer lifted their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. 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 report on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, HC Wainwright reissued a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $18.30.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in Terns Pharmaceuticals by 56.8% during 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 during the period. Rhumbline Advisers raised its position in shares of Terns Pharmaceuticals by 50.3% in the 2nd quarter. Rhumbline Advisers now owns 88,641 shares of the company’s stock worth $604,000 after buying an additional 29,659 shares during the period. American Century Companies Inc. raised its position in shares of Terns Pharmaceuticals by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock worth $437,000 after buying an additional 9,635 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Terns Pharmaceuticals by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock valued at $2,534,000 after acquiring an additional 31,875 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Terns Pharmaceuticals during the second quarter valued at about $596,000. 98.26% of the stock is owned by institutional investors and hedge funds.

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.