Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Short Interest Update

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 5,390,000 shares, a growth of 35.4% from the November 15th total of 3,980,000 shares. Approximately 8.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs bought 15,450 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, December 5th. The shares were purchased at an average cost of $7.15 per share, for a total transaction of $110,467.50. Following the acquisition, the chief executive officer now directly owns 19,099 shares in the company, valued at approximately $136,557.85. This represents a 423.40 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 15.10% of the stock is currently owned by company insiders.

Institutional Trading of Terns Pharmaceuticals

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in Terns Pharmaceuticals during the 3rd quarter worth $48,000. Sio Capital Management LLC bought a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth $83,000. Entropy Technologies LP bought a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth $106,000. Bleakley Financial Group LLC increased its stake in shares of Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after buying an additional 2,751 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Terns Pharmaceuticals by 78.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock valued at $113,000 after acquiring an additional 5,935 shares in the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN traded up $0.14 during trading hours on Friday, hitting $6.73. 2,110,012 shares of the company’s stock traded hands, compared to its average volume of 1,326,037. The firm has a market capitalization of $571.64 million, a P/E ratio of -5.70 and a beta of -0.36. The business has a fifty day moving average price of $6.82 and a 200-day moving average price of $7.53. Terns Pharmaceuticals has a 1 year low of $4.32 and a 1 year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. As a group, equities analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

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.