Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy L. Burroughs Buys 23,314 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy L. Burroughs purchased 23,314 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was acquired at an average price of $3.87 per share, for a total transaction of $90,225.18. Following the completion of the purchase, the chief executive officer now owns 47,083 shares of the company’s stock, valued at $182,211.21. This represents a 98.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Terns Pharmaceuticals Stock Performance

TERN opened at $4.06 on Thursday. The business’s 50-day simple moving average is $3.29 and its 200-day simple moving average is $3.90. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40. The stock has a market capitalization of $354.60 million, a P/E ratio of -3.72 and a beta of -0.18.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. On average, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in TERN. Candriam S.C.A. acquired a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth about $11,933,000. Acorn Capital Advisors LLC purchased a new position in shares of Terns Pharmaceuticals during the fourth quarter worth about $10,921,000. Soleus Capital Management L.P. grew its holdings in shares of Terns Pharmaceuticals by 30.8% during the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock worth $45,109,000 after buying an additional 1,918,956 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Terns Pharmaceuticals by 44.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock worth $26,323,000 after buying an additional 1,461,680 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Terns Pharmaceuticals during the first quarter worth about $3,880,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Wall Street Analysts Forecast Growth

TERN has been the topic of a number of analyst reports. JMP Securities restated a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. BMO Capital Markets cut their price target on Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.63.

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.