Terns Pharmaceuticals (NASDAQ:TERN) Now Covered by William Blair

William Blair initiated coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research note issued to investors on Friday, MarketBeat.com reports. The firm issued a market perform rating on the stock.

Several other research analysts have also issued reports on TERN. JMP Securities reiterated 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 restated a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, Oppenheimer upped their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN opened at $3.69 on Friday. Terns Pharmaceuticals has a 52-week low of $3.54 and a 52-week high of $11.40. The firm has a fifty day moving average of $4.70 and a 200 day moving average of $6.50. The firm has a market capitalization of $313.42 million, a PE ratio of -3.13 and a beta of -0.34.

Insider Transactions at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 8,760 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.79, for a total transaction of $50,720.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amy L. Burroughs bought 15,450 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were purchased at an average price of $7.15 per share, with a total value of $110,467.50. Following the completion of the acquisition, the chief executive officer now owns 19,099 shares of the company’s stock, valued at $136,557.85. This trade represents a 423.40 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 36,669 shares of company stock worth $211,040. Company insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Telemark Asset Management LLC bought a new position in Terns Pharmaceuticals in the third quarter worth about $2,502,000. Charles Schwab Investment Management Inc. boosted its position in Terns Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after acquiring an additional 1,994 shares in the last quarter. Quest Partners LLC bought a new stake in Terns Pharmaceuticals during the 3rd quarter valued at approximately $872,000. Bellevue Group AG bought a new stake in Terns Pharmaceuticals during the 3rd quarter valued at approximately $8,691,000. Finally, Parkman Healthcare Partners LLC boosted its position in Terns Pharmaceuticals by 39.8% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 545,751 shares of the company’s stock valued at $4,552,000 after acquiring an additional 155,481 shares in the last quarter. 98.26% of the stock is currently owned by hedge funds and other 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.