William Blair Reiterates “Market Perform” Rating for Terns Pharmaceuticals (NASDAQ:TERN)

William Blair reissued their market perform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report issued on Friday morning,RTT News reports.

Several other research analysts have also weighed in on the company. Oppenheimer increased their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. HC Wainwright reiterated a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.30.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN opened at $3.35 on Friday. Terns Pharmaceuticals has a one year low of $3.08 and a one year high of $11.40. The stock has a market cap of $284.55 million, a PE ratio of -2.84 and a beta of -0.30. The stock has a 50 day moving average price of $4.04 and a 200 day moving average price of $6.07.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. As a group, analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Terns Pharmaceuticals

In other news, insider Emil Kuriakose sold 4,481 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the transaction, the insider now directly owns 54,269 shares in the company, valued at $309,875.99. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark J. Vignola sold 9,059 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.80, for a total value of $52,542.20. Following the transaction, the chief financial officer now owns 74,752 shares of the company’s stock, valued at approximately $433,561.60. This represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,669 shares of company stock worth $211,040 over the last ninety days. Company insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Infinitum Asset Management LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at $1,108,000. Woodline Partners LP boosted its holdings in Terns Pharmaceuticals by 3.4% in the fourth quarter. Woodline Partners LP now owns 311,612 shares of the company’s stock valued at $1,726,000 after purchasing an additional 10,388 shares during the period. Velan Capital Investment Management LP purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at $94,000. Soleus Capital Management L.P. boosted its holdings in Terns Pharmaceuticals by 30.8% in the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock valued at $45,109,000 after purchasing an additional 1,918,956 shares during the period. Finally, Tema Etfs LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at $442,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

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.