Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells $52,542.20 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 9,059 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the transaction, the chief financial officer now directly owns 74,752 shares in the company, valued at $433,561.60. The trade was a 10.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Terns Pharmaceuticals Trading Down 6.9 %

Shares of TERN opened at $5.24 on Thursday. Terns Pharmaceuticals, Inc. has a twelve month low of $4.32 and a twelve month high of $11.40. The firm has a market capitalization of $445.08 million, a P/E ratio of -4.44 and a beta of -0.31. The stock’s fifty day simple moving average is $6.29 and its 200 day simple moving average is $7.38.

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

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Terns Pharmaceuticals by 56.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after acquiring an additional 64,018 shares during the period. Telemark Asset Management LLC purchased a new position in Terns Pharmaceuticals in the third quarter valued at about $2,502,000. Point72 Asset Management L.P. lifted its stake in shares of Terns Pharmaceuticals by 21.1% during the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after purchasing an additional 469,176 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Terns Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after buying an additional 1,994 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Terns Pharmaceuticals in the third quarter worth about $872,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TERN has been the subject of several analyst reports. 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. Oppenheimer upped their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price objective 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.