Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola Sells 8,129 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 8,129 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total transaction of $46,497.88. Following the completion of the sale, the chief financial officer now directly owns 83,811 shares of the company’s stock, valued at $479,398.92. The trade was a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Terns Pharmaceuticals Stock Down 0.7 %

Shares of Terns Pharmaceuticals stock traded down $0.04 during trading on Monday, reaching $5.71. The company’s stock had a trading volume of 1,252,259 shares, compared to its average volume of 1,424,849. The business has a 50 day moving average price of $6.35 and a 200-day moving average price of $7.41. Terns Pharmaceuticals, Inc. has a 12-month low of $4.32 and a 12-month high of $11.40. The company has a market capitalization of $485.00 million, a P/E ratio of -4.84 and a beta of -0.31.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.05. Research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TERN. 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. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. BMO Capital Markets reaffirmed 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. Finally, Oppenheimer boosted their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $18.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of Terns Pharmaceuticals by 56.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after acquiring an additional 64,018 shares during the period. Telemark Asset Management LLC purchased a new position in Terns Pharmaceuticals in the 3rd quarter valued at approximately $2,502,000. Point72 Asset Management L.P. raised its holdings in Terns Pharmaceuticals by 21.1% during the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after purchasing an additional 469,176 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Terns Pharmaceuticals in the third quarter valued at $872,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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.