Terns Pharmaceuticals (NASDAQ:TERN) Stock Price Down 4.7% – Time to Sell?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) shares were down 4.7% during trading on Wednesday . The company traded as low as $6.44 and last traded at $6.48. Approximately 460,331 shares changed hands during trading, a decline of 65% from the average daily volume of 1,323,448 shares. The stock had previously closed at $6.80.

Analyst Ratings Changes

A number of analysts have recently issued reports on TERN shares. HC Wainwright reiterated a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Oppenheimer lifted their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. Finally, JMP Securities restated a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

Terns Pharmaceuticals Price Performance

The company has a fifty day moving average price of $6.78 and a 200 day moving average price of $7.55. The company has a market capitalization of $520.68 million, a P/E ratio of -5.19 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. On average, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Terns Pharmaceuticals

In other news, CEO Amy L. Burroughs purchased 15,450 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in Terns Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after acquiring an additional 1,994 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Terns Pharmaceuticals by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after purchasing an additional 2,751 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Terns Pharmaceuticals by 28.7% during the second 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. Creative Planning grew its position in shares of Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company’s stock valued at $211,000 after purchasing an additional 5,409 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of Terns Pharmaceuticals in the third quarter valued at approximately $48,000. Institutional investors and hedge funds 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.