Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells 9,059 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 9,059 shares of Terns Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.80, for a total transaction of $52,542.20. Following the sale, the chief financial officer now directly owns 74,752 shares in the company, valued at $433,561.60. This trade represents a 10.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Terns Pharmaceuticals Stock Down 6.9 %

Shares of NASDAQ TERN opened at $5.24 on Thursday. The stock’s 50 day moving average price is $6.29 and its two-hundred day moving average price is $7.38. Terns Pharmaceuticals, Inc. has a 52-week low of $4.32 and a 52-week high of $11.40. The stock has a market capitalization of $445.08 million, a P/E ratio of -4.44 and a beta of -0.31.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.05. On average, analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Point72 Asset Management L.P. raised its stake in Terns Pharmaceuticals by 0.6% during the third quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock worth $22,581,000 after acquiring an additional 17,139 shares during the period. Geode Capital Management LLC raised its position in shares of Terns Pharmaceuticals by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock worth $10,072,000 after purchasing an additional 85,617 shares during the period. Bellevue Group AG bought a new stake in shares of Terns Pharmaceuticals in the 3rd quarter worth approximately $8,691,000. 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 purchasing an additional 155,481 shares during the period. Finally, Acuta Capital Partners LLC grew its stake in Terns Pharmaceuticals by 31.9% during the 3rd quarter. Acuta Capital Partners LLC now owns 487,000 shares of the company’s stock worth $4,062,000 after buying an additional 117,720 shares during the last quarter. 98.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. Oppenheimer lifted their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. HC Wainwright reiterated a “neutral” rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $20.00 price target 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.30.

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.