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 shares were sold at an average price of $5.72, for a total transaction of $46,497.88. Following the sale, the chief financial officer now owns 83,811 shares of the company’s stock, valued at $479,398.92. The trade was a 8.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Terns Pharmaceuticals Stock Down 1.4 %

Shares of TERN stock opened at $5.63 on Wednesday. Terns Pharmaceuticals, Inc. has a 52-week low of $4.32 and a 52-week high of $11.40. The stock has a market cap of $478.21 million, a PE ratio of -4.77 and a beta of -0.31. The business has a 50-day simple moving average of $6.32 and a 200-day simple moving average of $7.40.

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

Hedge Funds Weigh In On Terns Pharmaceuticals

Several large investors have recently made changes to their positions in TERN. Bank of New York Mellon Corp grew 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 valued at $1,203,000 after buying an additional 64,018 shares during the period. Rhumbline Advisers grew its position in shares of Terns Pharmaceuticals by 50.3% during the 2nd quarter. Rhumbline Advisers now owns 88,641 shares of the company’s stock valued at $604,000 after acquiring an additional 29,659 shares during the period. American Century Companies Inc. increased its stake 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in Terns Pharmaceuticals by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock worth $2,534,000 after purchasing an additional 31,875 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Terns Pharmaceuticals during the second quarter worth approximately $596,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.