Terns Pharmaceuticals (NASDAQ:TERN) Shares Up 3.5% – Time to Buy?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) traded up 3.5% during mid-day trading on Tuesday . The stock traded as high as $6.03 and last traded at $5.99. 57,669 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,281,205 shares. The stock had previously closed at $5.79.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JMP Securities raised their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 10th. HC Wainwright lifted their target price on Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Oppenheimer assumed coverage on Terns Pharmaceuticals in a report on Thursday, October 31st. They set an “outperform” rating and a $82.00 price target on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $30.70.

Terns Pharmaceuticals Trading Up 7.8 %

The stock has a market capitalization of $538.52 million, a PE ratio of -5.37 and a beta of -0.32. The stock has a 50 day moving average price of $7.39 and a 200-day moving average price of $7.49.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. Research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.22 earnings per share for the current year.

Insider Buying and Selling

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 17,235 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $150,000. This represents a 53.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hongbo Lu purchased 476,190 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the purchase, the director now directly owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 15.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Bellevue Group AG purchased a new stake in shares of Terns Pharmaceuticals during the 3rd quarter valued at $8,691,000. Janus Henderson Group PLC lifted its holdings in Terns Pharmaceuticals by 40.6% during the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after purchasing an additional 578,500 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Terns Pharmaceuticals by 21.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after buying an additional 469,176 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Terns Pharmaceuticals during the second quarter worth approximately $2,531,000. Finally, Telemark Asset Management LLC purchased a new stake in shares of Terns Pharmaceuticals during the third quarter worth $2,502,000. 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.