William Blair Begins Coverage on Terns Pharmaceuticals (NASDAQ:TERN)

William Blair initiated coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report report published on Friday morning, MarketBeat reports. The firm issued a market perform rating on the stock.

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

Terns Pharmaceuticals Stock Performance

TERN stock opened at $3.69 on Friday. The firm has a 50 day moving average price of $4.70 and a 200-day moving average price of $6.50. Terns Pharmaceuticals has a 52-week low of $3.54 and a 52-week high of $11.40. The firm has a market capitalization of $313.42 million, a price-to-earnings ratio of -3.13 and a beta of -0.34.

Insider Buying and Selling

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 4,481 shares of Terns Pharmaceuticals 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 of the company’s stock, valued at approximately $309,875.99. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amy L. Burroughs bought 15,450 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was bought at an average cost of $7.15 per share, with a total value of $110,467.50. Following the transaction, the chief executive officer now owns 19,099 shares in the company, valued at $136,557.85. This trade represents a 423.40 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 36,669 shares of company stock worth $211,040 in the last three months. Insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Infinitum Asset Management LLC bought a new stake in Terns Pharmaceuticals in the 4th quarter worth approximately $1,108,000. Woodline Partners LP grew its position in Terns Pharmaceuticals by 3.4% in the 4th quarter. Woodline Partners LP now owns 311,612 shares of the company’s stock worth $1,726,000 after purchasing an additional 10,388 shares during the period. Velan Capital Investment Management LP bought a new stake in Terns Pharmaceuticals in the 4th quarter worth approximately $94,000. Soleus Capital Management L.P. grew its position in Terns Pharmaceuticals by 30.8% in the 4th quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock worth $45,109,000 after purchasing an additional 1,918,956 shares during the period. Finally, Tema Etfs LLC bought a new stake in Terns Pharmaceuticals in the 4th quarter worth approximately $442,000. 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.