Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $18.30 Average PT from Brokerages

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.30.

Several research analysts have recently issued reports on TERN shares. William Blair initiated coverage on Terns Pharmaceuticals in a research note on Friday. They issued a "market perform" rating for the company. Oppenheimer upped their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. HC Wainwright reissued a "neutral" rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, JMP Securities restated a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th.

Insider Activity

In related news, insider Emil Kuriakose sold 4,481 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the sale, the insider now directly owns 54,269 shares in the company, valued at approximately $309,875.99. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jill M. Quigley sold 6,240 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $35,692.80. Following the completion of the transaction, the director now directly owns 8,760 shares in the company, valued at $50,107.20. This represents a 41.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,669 shares of company stock worth $211,040. Corporate insiders own 15.10% of the company's stock.

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Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Candriam S.C.A. acquired a new position in shares of Terns Pharmaceuticals in the fourth quarter worth about $11,933,000. Acorn Capital Advisors LLC purchased a new stake in shares of Terns Pharmaceuticals in the 4th quarter valued at approximately $10,921,000. Soleus Capital Management L.P. boosted its stake 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. Schonfeld Strategic Advisors LLC boosted its stake in Terns Pharmaceuticals by 44.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company's stock worth $26,323,000 after purchasing an additional 1,461,680 shares during the period. Finally, Bellevue Group AG purchased a new position in Terns Pharmaceuticals during the 3rd quarter worth approximately $8,691,000. Institutional investors and hedge funds own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Performance

Shares of TERN traded up $0.12 during mid-day trading on Friday, reaching $3.51. 909,551 shares of the company's stock traded hands, compared to its average volume of 1,419,181. The business's 50-day moving average price is $4.65 and its 200-day moving average price is $6.48. The stock has a market capitalization of $298.14 million, a P/E ratio of -2.97 and a beta of -0.34. Terns Pharmaceuticals has a 12 month low of $3.27 and a 12 month high of $11.40.

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.