Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley Sells 17,235 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 17,235 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $150,000. The transaction was disclosed in a filing with the SEC, which is available through this link.

Terns Pharmaceuticals Trading Down 4.9 %

Shares of TERN traded down $0.55 during trading hours on Wednesday, reaching $10.68. 8,659,700 shares of the stock traded hands, compared to its average volume of 1,215,086. The stock has a fifty day simple moving average of $7.89 and a 200 day simple moving average of $6.89. Terns Pharmaceuticals, Inc. has a 52 week low of $3.26 and a 52 week high of $11.40. The company has a market cap of $690.78 million, a price-to-earnings ratio of -8.51 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.04. Analysts predict that Terns Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JMP Securities boosted their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a report on Tuesday. BMO Capital Markets reissued an “outperform” rating and set a $19.00 target price on shares of Terns Pharmaceuticals in a report on Tuesday, August 6th. Finally, HC Wainwright reissued a “neutral” rating and set a $5.50 target price on shares of Terns Pharmaceuticals in a report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Terns Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $14.50.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC bought a new stake in shares of Terns Pharmaceuticals in the 2nd quarter worth approximately $72,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Terns Pharmaceuticals by 66.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock worth $78,000 after acquiring an additional 4,742 shares during the last quarter. Walleye Trading LLC bought a new stake in shares of Terns Pharmaceuticals in the 1st quarter worth approximately $98,000. Kennedy Capital Management LLC bought a new stake in shares of Terns Pharmaceuticals in the 1st quarter worth approximately $101,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $106,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.