Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells 9,059 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERNGet Free Report) CFO Mark J. Vignola sold 9,059 shares of Terns Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.80, for a total value of $52,542.20. Following the transaction, the chief financial officer now owns 74,752 shares in the company, valued at $433,561.60. This trade represents a 10.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN opened at $5.63 on Wednesday. The company’s 50-day moving average price is $6.32 and its two-hundred day moving average price is $7.40. Terns Pharmaceuticals, Inc. has a one year low of $4.32 and a one year high of $11.40. The stock has a market capitalization of $478.21 million, a PE ratio of -4.77 and a beta of -0.31.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on TERN shares. HC Wainwright reiterated a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Finally, Oppenheimer upped 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.30.

View Our Latest Report on Terns Pharmaceuticals

Hedge Funds Weigh In On Terns Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in TERN. Bank of New York Mellon Corp raised its position 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 acquiring an additional 64,018 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Terns Pharmaceuticals by 50.3% during the 2nd quarter. Rhumbline Advisers now owns 88,641 shares of the company’s stock worth $604,000 after purchasing an additional 29,659 shares during the last quarter. American Century Companies Inc. raised its holdings 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 valued at $437,000 after purchasing an additional 9,635 shares during the period. Dimensional Fund Advisors LP lifted its stake in Terns Pharmaceuticals by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock valued at $2,534,000 after purchasing an additional 31,875 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Terns Pharmaceuticals during the second quarter worth about $596,000. 98.26% of the stock is owned by institutional investors.

About Terns Pharmaceuticals

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Terns Pharmaceuticals (NASDAQ:TERN)

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