Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Insider Purchases $11,497.50 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) insider Melita Sun Jung bought 2,250 shares of the stock in a transaction on Saturday, November 30th. The stock was purchased at an average price of $5.11 per share, with a total value of $11,497.50. Following the completion of the purchase, the insider now owns 2,250 shares of the company's stock, valued at $11,497.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Terns Pharmaceuticals Stock Performance

NASDAQ TERN traded up $0.14 during trading hours on Wednesday, reaching $4.66. The stock had a trading volume of 688,357 shares, compared to its average volume of 1,827,480. Terns Pharmaceuticals, Inc. has a 52-week low of $4.16 and a 52-week high of $11.40. The stock has a fifty day moving average of $5.55 and a 200 day moving average of $6.95. The stock has a market cap of $395.82 million, a P/E ratio of -3.95 and a beta of -0.34.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.05. On average, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analyst Upgrades and Downgrades

TERN has been the topic of several research analyst reports. HC Wainwright restated a "neutral" rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. JMP Securities restated a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer boosted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Terns Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $18.30.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several institutional investors have recently made changes to their positions in TERN. nVerses Capital LLC purchased a new position in Terns Pharmaceuticals in the third quarter valued at $48,000. Sio Capital Management LLC purchased a new position in shares of Terns Pharmaceuticals in the 3rd quarter valued at about $83,000. Savant Capital LLC acquired a new position in Terns Pharmaceuticals in the 4th quarter worth about $89,000. China Universal Asset Management Co. Ltd. boosted its position in Terns Pharmaceuticals by 33.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company's stock worth $100,000 after purchasing an additional 4,475 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Terns Pharmaceuticals in the third quarter valued at approximately $106,000. 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.