Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Sells 17,235 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 17,235 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $150,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Terns Pharmaceuticals Stock Performance

TERN opened at $10.68 on Thursday. The company has a fifty day moving average of $7.97 and a two-hundred day moving average of $6.92. The stock has a market capitalization of $690.78 million, a price-to-earnings ratio of -8.48 and a beta of -0.37. Terns Pharmaceuticals, Inc. has a fifty-two week low of $3.26 and a fifty-two week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.04. On average, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

TERN has been the topic of several recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Terns Pharmaceuticals in a report on Tuesday, August 6th. JMP Securities upped their target price on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TERN. Decheng Capital LLC acquired a new stake in Terns Pharmaceuticals in the 4th quarter valued at $4,636,000. Great Point Partners LLC lifted its holdings in Terns Pharmaceuticals by 102.8% during the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after purchasing an additional 664,076 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Terns Pharmaceuticals by 40.6% in 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 during the period. Point72 Asset Management L.P. grew its position in shares of Terns Pharmaceuticals by 21.1% in the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock valued at $18,321,000 after purchasing an additional 469,176 shares during the period. Finally, Affinity Asset Advisors LLC increased its stake in shares of Terns Pharmaceuticals by 581.8% during the first quarter. Affinity Asset Advisors LLC now owns 450,000 shares of the company’s stock worth $2,952,000 after purchasing an additional 384,000 shares in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

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.