Insider Buying: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Buys 476,190 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Hongbo Lu purchased 476,190 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the purchase, the director now owns 476,190 shares in the company, valued at approximately $4,999,995. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Terns Pharmaceuticals Stock Up 2.3 %

Shares of TERN traded up $0.22 during mid-day trading on Tuesday, reaching $9.63. The company’s stock had a trading volume of 1,714,418 shares, compared to its average volume of 1,255,548. The company has a market cap of $622.84 million, a price-to-earnings ratio of -7.64 and a beta of -0.37. The business has a fifty day moving average of $8.15 and a 200 day moving average of $6.97. Terns Pharmaceuticals, Inc. has a 1 year low of $3.26 and a 1 year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.04. On average, analysts predict that Terns Pharmaceuticals, Inc. will post -1.3 earnings per share for the current year.

Institutional Trading of Terns Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC purchased a new stake in Terns Pharmaceuticals in the 2nd quarter worth approximately $72,000. China Universal Asset Management Co. Ltd. lifted its stake in Terns Pharmaceuticals by 66.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after acquiring an additional 4,742 shares during the last quarter. Walleye Trading LLC acquired a new stake in shares of Terns Pharmaceuticals in the 1st quarter valued at $98,000. Kennedy Capital Management LLC bought a new stake in Terns Pharmaceuticals in the first quarter worth $101,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Terns Pharmaceuticals during the fourth quarter worth $106,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TERN has been the topic of several research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday. JMP Securities lifted their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $15.90.

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.