Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Sells $35,692.80 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 6,240 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $35,692.80. Following the completion of the transaction, the director now owns 8,760 shares in the company, valued at $50,107.20. The trade was a 41.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Jill M. Quigley also recently made the following trade(s):

• On Monday, January 6th, Jill M. Quigley sold 8,760 shares of Terns Pharmaceuticals stock. The shares were sold at an average price of $5.79, for a total transaction of $50,720.40.

Terns Pharmaceuticals Stock Down 6.9 %

TERN opened at $5.24 on Thursday. The stock has a market cap of $445.08 million, a P/E ratio of -4.44 and a beta of -0.31. Terns Pharmaceuticals, Inc. has a 12 month low of $4.32 and a 12 month high of $11.40. The company has a fifty day simple moving average of $6.29 and a 200 day simple moving average of $7.38.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HC Wainwright restated a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. BMO Capital Markets reaffirmed 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. Finally, Oppenheimer increased their target price on 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 issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.30.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TERN. nVerses Capital LLC bought a new stake in shares of Terns Pharmaceuticals during the third quarter worth $48,000. Sio Capital Management LLC acquired a new position in Terns Pharmaceuticals in the 3rd quarter worth $83,000. Entropy Technologies LP bought a new position in Terns Pharmaceuticals during the 3rd quarter worth about $106,000. Bleakley Financial Group LLC raised its stake in shares of Terns Pharmaceuticals by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after purchasing an additional 2,751 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted 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 purchasing an additional 5,935 shares in the last quarter. Institutional investors own 98.26% of the company’s stock.

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.