Terns Pharmaceuticals (NASDAQ:TERN) Shares Down 6.2% – What’s Next?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN)’s share price was down 6.2% during mid-day trading on Thursday . The company traded as low as $7.30 and last traded at $7.39. Approximately 118,931 shares traded hands during trading, a decline of 91% from the average daily volume of 1,274,308 shares. The stock had previously closed at $7.88.

Wall Street Analyst Weigh In

TERN has been the subject of several analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. JMP Securities boosted their target price on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Terns Pharmaceuticals Stock Up 3.6 %

The business’s fifty day moving average is $8.18 and its 200 day moving average is $7.17. The stock has a market cap of $539.51 million, a PE ratio of -5.81 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.04. As a group, analysts predict that Terns Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jill M. Quigley sold 6,143 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 23,857 shares in the company, valued at $183,221.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $7.68, for a total value of $47,178.24. Following the sale, the director now directly owns 23,857 shares in the company, valued at $183,221.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hongbo Lu acquired 476,190 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the purchase, the director now owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 84,354 shares of company stock worth $839,288. Insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Simplicity Wealth LLC purchased a new position in shares of Terns Pharmaceuticals during the 2nd quarter worth $72,000. China Universal Asset Management Co. Ltd. lifted its position in 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 worth $78,000 after buying an additional 4,742 shares during the period. Walleye Trading LLC purchased a new stake in Terns Pharmaceuticals in the 1st quarter valued at about $98,000. Kennedy Capital Management LLC purchased a new stake in Terns Pharmaceuticals in the 1st quarter valued at about $101,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.