Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Sells $47,178.24 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 6,143 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $7.68, for a total transaction of $47,178.24. Following the transaction, the director now directly owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN opened at $6.66 on Thursday. The firm’s 50-day moving average price is $7.62 and its 200-day moving average price is $6.67. The company has a market capitalization of $430.77 million, a PE ratio of -5.29 and a beta of -0.37. Terns Pharmaceuticals, Inc. has a 1-year low of $3.26 and a 1-year high of $10.03.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.04. Equities analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Trading of Terns Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Terns Pharmaceuticals by 358.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock valued at $46,000 after acquiring an additional 5,587 shares during the last quarter. AJOVista LLC bought a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $58,000. Simplicity Solutions LLC bought a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $68,000. Bleakley Financial Group LLC bought a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $68,000. Finally, Simplicity Wealth LLC bought a new position in shares of Terns Pharmaceuticals in the 2nd quarter worth approximately $72,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Wall Street Analyst Weigh In

TERN has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Terns Pharmaceuticals in a research note on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $15.00 price target on shares of Terns Pharmaceuticals in a research note on Tuesday, April 30th. Finally, HC Wainwright reissued a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $14.50.

About Terns Pharmaceuticals

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.