Terns Pharmaceuticals (NASDAQ:TERN) Shares Up 7.3%

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) shares traded up 7.3% on Monday . The company traded as high as $7.87 and last traded at $7.78. 856,855 shares were traded during mid-day trading, a decline of 14% from the average session volume of 998,493 shares. The stock had previously closed at $7.25.

Analyst Ratings Changes

Several brokerages have recently issued reports on TERN. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of Terns Pharmaceuticals in a research note on Tuesday, April 30th. HC Wainwright restated a “neutral” rating and issued a $5.50 target price on shares of Terns Pharmaceuticals in a research note on Tuesday, May 14th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $19.00 price target on shares of Terns Pharmaceuticals in a research note on Tuesday, August 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $13.50.

Terns Pharmaceuticals Trading Up 4.9 %

The stock has a market cap of $509.68 million, a P/E ratio of -6.25 and a beta of -0.37. The stock’s fifty day moving average price is $7.67 and its 200 day moving average price is $6.79.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.04. On average, analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, Director Carl L. Gordon sold 50,976 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $10.00, for a total transaction of $509,760.00. Following the transaction, the director now directly owns 756,258 shares in the company, valued at $7,562,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $7.68, for a total value of $47,178.24. Following the transaction, the director now owns 23,857 shares in the company, valued at approximately $183,221.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carl L. Gordon sold 50,976 shares of the business’s stock in a transaction 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 sale, the director now directly owns 756,258 shares of the company’s stock, valued at $7,562,580. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TERN. Price T Rowe Associates Inc. MD boosted its holdings in Terns Pharmaceuticals by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after acquiring an additional 2,261 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Terns Pharmaceuticals by 66.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after purchasing an additional 4,742 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Terns Pharmaceuticals by 28.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after purchasing an additional 5,049 shares during the last quarter. AJOVista LLC bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth approximately $58,000. Finally, American Century Companies Inc. raised its holdings in Terns Pharmaceuticals by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock valued at $437,000 after buying an additional 9,635 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

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.