Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Sells $50,720.40 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 8,760 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.79, for a total value of $50,720.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Terns Pharmaceuticals Stock Performance

Shares of Terns Pharmaceuticals stock opened at $5.24 on Thursday. The company has a 50-day simple moving average of $6.29 and a two-hundred day simple moving average of $7.38. The stock has a market capitalization of $445.08 million, a PE ratio of -4.44 and a beta of -0.31. Terns Pharmaceuticals, Inc. has a 52-week low of $4.32 and a 52-week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.05. As a group, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TERN. Bank of New York Mellon Corp boosted its position in shares of 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 last quarter. Rhumbline Advisers boosted its holdings 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 last quarter. American Century Companies Inc. boosted its holdings in shares of 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 acquiring an additional 9,635 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Terns Pharmaceuticals by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock worth $2,534,000 after acquiring an additional 31,875 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Terns Pharmaceuticals during the second quarter valued at approximately $596,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.