Terns Pharmaceuticals (NASDAQ:TERN) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report report published on Tuesday, Benzinga reports. They currently have a $5.50 price target on the stock.

A number of other research analysts also recently issued reports on the stock. UBS Group decreased their target price on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a buy rating for the company in a research report on Wednesday, March 27th. BMO Capital Markets lifted their price objective on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an outperform rating in a report on Friday, March 15th. Finally, JMP Securities cut their price objective on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an outperform rating for the company in a report on Monday, March 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $14.94.

Terns Pharmaceuticals Price Performance

NASDAQ TERN opened at $5.05 on Tuesday. The company has a market capitalization of $326.63 million, a PE ratio of -3.98 and a beta of -0.63. The company has a fifty day moving average of $6.29 and a 200 day moving average of $5.85. Terns Pharmaceuticals has a 1 year low of $3.26 and a 1 year high of $13.51.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.29). Research analysts expect that Terns Pharmaceuticals will post -1.46 earnings per share for the current year.

Insider Transactions at Terns Pharmaceuticals

In other news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total value of $856,009.20. Following the transaction, the insider now directly owns 268,573 shares in the company, valued at approximately $1,665,152.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in shares of Terns Pharmaceuticals by 66.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after buying an additional 4,742 shares during the last quarter. Great Point Partners LLC grew its position in shares of Terns Pharmaceuticals by 102.8% in the 4th quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after buying an additional 664,076 shares during the last quarter. Pale Fire Capital SE grew its position in shares of Terns Pharmaceuticals by 222.4% in the 4th quarter. Pale Fire Capital SE now owns 49,014 shares of the company’s stock valued at $318,000 after buying an additional 33,812 shares during the last quarter. Decheng Capital LLC purchased a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at $4,636,000. Finally, Franklin Resources Inc. grew its position in shares of Terns Pharmaceuticals by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock valued at $14,978,000 after buying an additional 159,013 shares during the last quarter. 98.26% of the stock is 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.