Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report)'s share price dropped 4.7% on Wednesday . The company traded as low as $6.44 and last traded at $6.48. Approximately 460,331 shares were traded during trading, a decline of 65% from the average daily volume of 1,323,448 shares. The stock had previously closed at $6.80.
Analyst Ratings Changes
TERN has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and issued a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. JMP Securities reissued a "market outperform" rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Oppenheimer upped their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, HC Wainwright reiterated a "neutral" rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.30.
Get Our Latest Research Report on Terns Pharmaceuticals
Terns Pharmaceuticals Stock Down 15.3 %
The stock has a market cap of $489.25 million, a price-to-earnings ratio of -4.88 and a beta of -0.36. The stock has a fifty day moving average of $6.78 and a two-hundred day moving average of $7.55.
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 the consensus estimate of ($0.33) by $0.05. Equities research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Amy L. Burroughs bought 15,450 shares of the stock in a transaction dated Thursday, December 5th. The stock was acquired at an average price of $7.15 per share, for a total transaction of $110,467.50. Following the completion of the purchase, the chief executive officer now owns 19,099 shares in the company, valued at $136,557.85. This represents a 423.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Terns Pharmaceuticals
Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company's stock worth $1,290,000 after purchasing an additional 1,994 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Terns Pharmaceuticals by 26.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company's stock valued at $111,000 after purchasing an additional 2,751 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Terns Pharmaceuticals by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company's stock worth $154,000 after buying an additional 5,049 shares during the period. Creative Planning lifted its holdings in Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company's stock worth $211,000 after buying an additional 5,409 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Terns Pharmaceuticals in the 3rd quarter valued at about $48,000. Hedge funds and other institutional investors own 98.26% of the company's stock.
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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