Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Short Interest Update

by · The Markets Daily

Terns Pharmaceuticals, Inc. (NASDAQ:TERN – Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 3,760,000 shares, a growth of 41.4% from the August 31st total of 2,660,000 shares. Based on an average daily volume of 1,950,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 6.4% of the shares of the company are sold short.

Insider Buying and Selling at Terns Pharmaceuticals

In other news, CFO Mark J. Vignola sold 10,000 shares of Terns Pharmaceuticals stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total transaction of $110,000.00. Following the sale, the chief financial officer now directly owns 91,940 shares in the company, valued at approximately $1,011,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now owns 91,940 shares in the company, valued at $1,011,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hongbo Lu acquired 476,190 shares of the stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the transaction, the director now owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. The disclosure for this purchase can be found here. Insiders sold 84,354 shares of company stock worth $839,288 in the last quarter. 15.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Great Point Partners LLC boosted its position in shares of Terns Pharmaceuticals by 102.8% in the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after acquiring an additional 664,076 shares during the period. Janus Henderson Group PLC grew its position in shares of Terns Pharmaceuticals by 40.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after purchasing an additional 578,500 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Terns Pharmaceuticals by 21.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock valued at $18,321,000 after purchasing an additional 469,176 shares in the last quarter. Affinity Asset Advisors LLC increased its holdings in shares of Terns Pharmaceuticals by 581.8% in the first quarter. Affinity Asset Advisors LLC now owns 450,000 shares of the company’s stock worth $2,952,000 after purchasing an additional 384,000 shares during the period. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of Terns Pharmaceuticals in the second quarter worth $2,531,000. 98.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TERN. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. JMP Securities increased their price target on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.90.

Get Our Latest Stock Analysis on Terns Pharmaceuticals

Terns Pharmaceuticals Trading Down 3.4 %

Terns Pharmaceuticals stock opened at $8.55 on Friday. The firm has a 50 day simple moving average of $8.24 and a 200 day simple moving average of $7.08. Terns Pharmaceuticals has a 1-year low of $3.26 and a 1-year high of $11.40. The firm has a market capitalization of $601.41 million, a price-to-earnings ratio of -6.79 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.04. On average, equities research analysts forecast that Terns Pharmaceuticals will post -1.31 EPS for the current year.

About Terns Pharmaceuticals

(Get Free Report)

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.

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