Terns Pharmaceuticals (NASDAQ:TERN) Trading Down 5.2% – Time to Sell?

by · The Markets Daily

Terns Pharmaceuticals, Inc. (NASDAQ:TERN – Get Free Report) was down 5.2% during mid-day trading on Thursday . The company traded as low as $6.68 and last traded at $6.71. Approximately 247,485 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,311,256 shares. The stock had previously closed at $7.08.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TERN shares. HC Wainwright reissued a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a report on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. JMP Securities reissued a “market outperform” rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday. Finally, Oppenheimer boosted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.30.

Check Out Our Latest Research Report on TERN

Terns Pharmaceuticals Trading Down 4.8 %

The firm’s 50-day moving average price is $7.06 and its 200 day moving average price is $7.51. The company has a market capitalization of $572.50 million, a price-to-earnings ratio of -5.63 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. As a group, equities research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.22 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at $1,011,340. This represents a 9.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hongbo Lu acquired 476,190 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the purchase, the director now directly owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC lifted its stake in shares of Terns Pharmaceuticals by 110.2% in the third quarter. Virtu Financial LLC now owns 62,216 shares of the company’s stock valued at $519,000 after buying an additional 32,624 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock valued at $10,072,000 after buying an additional 85,617 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Terns Pharmaceuticals in the third quarter valued at $148,000. Point72 Asset Management L.P. lifted its stake in shares of Terns Pharmaceuticals by 0.6% in the third quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock valued at $22,581,000 after buying an additional 17,139 shares in the last quarter. Finally, Polymer Capital Management HK LTD bought a new position in shares of Terns Pharmaceuticals in the third quarter valued at $200,000. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Company Profile

(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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