Terns Pharmaceuticals (NASDAQ:TERN) Shares Down 4.3%

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) shares traded down 4.3% during trading on Monday . The company traded as low as $8.56 and last traded at $8.62. 140,107 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 992,579 shares. The stock had previously closed at $9.01.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JMP Securities restated a “market outperform” rating and issued a $15.00 price target on shares of Terns Pharmaceuticals in a research report on Tuesday, April 30th. HC Wainwright reiterated a “neutral” rating and set a $5.50 target price on shares of Terns Pharmaceuticals in a research report on Tuesday, May 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Terns Pharmaceuticals Price Performance

The firm has a 50-day moving average of $7.40 and a 200-day moving average of $6.57. The stock has a market cap of $538.78 million, a PE ratio of -6.63 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Monday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.06. Equities analysts forecast that Terns Pharmaceuticals, Inc. will post -1.41 EPS for the current fiscal year.

Insider Activity at Terns Pharmaceuticals

In related news, Director Carl L. Gordon sold 50,976 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $10.00, for a total transaction of $509,760.00. Following the completion of the transaction, the director now directly owns 756,258 shares of the company’s stock, valued at $7,562,580. The sale was disclosed in a filing with the SEC, which is available through this link. 15.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TERN. Decheng Capital LLC bought a new position in Terns Pharmaceuticals during the fourth quarter valued at approximately $4,636,000. Great Point Partners LLC lifted its stake in shares of Terns Pharmaceuticals by 102.8% in the 4th quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after purchasing an additional 664,076 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Terns Pharmaceuticals by 40.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after purchasing an additional 578,500 shares during the last quarter. Affinity Asset Advisors LLC lifted its stake in shares of Terns Pharmaceuticals by 581.8% in the 1st quarter. Affinity Asset Advisors LLC now owns 450,000 shares of the company’s stock valued at $2,952,000 after purchasing an additional 384,000 shares during the last quarter. Finally, Salem Investment Counselors Inc. bought a new stake in shares of Terns Pharmaceuticals in the 2nd quarter valued at approximately $2,531,000. 98.26% of the stock is owned by institutional investors.

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.