Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Insider Emil Kuriakose Sells 4,481 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total value of $25,586.51. Following the completion of the sale, the insider now owns 54,269 shares in the company, valued at approximately $309,875.99. This represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN traded down $0.04 during midday trading on Monday, reaching $5.71. 1,252,259 shares of the company’s stock traded hands, compared to its average volume of 1,424,849. The company has a market cap of $485.00 million, a P/E ratio of -4.84 and a beta of -0.31. The company has a fifty day simple moving average of $6.35 and a two-hundred day simple moving average of $7.41. Terns Pharmaceuticals, Inc. has a 1 year low of $4.32 and a 1 year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. As a group, research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Terns Pharmaceuticals during the third quarter worth approximately $48,000. Sio Capital Management LLC purchased a new stake in shares of Terns Pharmaceuticals during the third quarter worth $83,000. Entropy Technologies LP acquired a new stake in shares of Terns Pharmaceuticals in the third quarter valued at about $106,000. Bleakley Financial Group LLC lifted its stake in shares of Terns Pharmaceuticals by 26.0% in the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after buying an additional 2,751 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Terns Pharmaceuticals by 78.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock worth $113,000 after acquiring an additional 5,935 shares during the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TERN shares. Oppenheimer raised their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. BMO Capital Markets reissued an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Terns Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

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.