Melita Sun Jung Acquires 2,250 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Melita Sun Jung acquired 2,250 shares of Terns Pharmaceuticals stock in a transaction dated Saturday, November 30th. The shares were bought at an average price of $5.11 per share, for a total transaction of $11,497.50. Following the transaction, the insider now owns 2,250 shares of the company’s stock, valued at approximately $11,497.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Terns Pharmaceuticals Trading Down 2.0 %

Shares of TERN traded down $0.09 during mid-day trading on Monday, hitting $4.37. The company’s stock had a trading volume of 1,864,644 shares, compared to its average volume of 1,854,421. The company’s 50-day moving average is $5.57 and its 200-day moving average is $6.98. Terns Pharmaceuticals, Inc. has a 52-week low of $4.16 and a 52-week high of $11.40. The firm has a market capitalization of $371.19 million, a price-to-earnings ratio of -3.70 and a beta of -0.34.

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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TERN shares. Oppenheimer upped their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a report 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $18.30.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of large investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at $48,000. Sio Capital Management LLC purchased a new stake in Terns Pharmaceuticals during the 3rd quarter worth approximately $83,000. Savant Capital LLC acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at $89,000. China Universal Asset Management Co. Ltd. raised its position in shares of Terns Pharmaceuticals by 33.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock valued at $100,000 after buying an additional 4,475 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in Terns Pharmaceuticals during the third quarter worth approximately $106,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.