William Blair Reiterates "Market Perform" Rating for Terns Pharmaceuticals (NASDAQ:TERN)

William Blair reissued their market perform rating on shares of Terns Pharmaceuticals (NASDAQ:TERN - Free Report) in a report released on Friday morning,RTT News reports.

Several other research analysts have also commented on the stock. Oppenheimer increased their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, HC Wainwright reiterated a "neutral" rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Terns Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $18.30.

Terns Pharmaceuticals Stock Down 5.4 %

Shares of Terns Pharmaceuticals stock traded down $0.19 during midday trading on Friday, hitting $3.32. The company's stock had a trading volume of 803,634 shares, compared to its average volume of 1,401,415. Terns Pharmaceuticals has a 1-year low of $3.08 and a 1-year high of $11.40. The firm has a market capitalization of $282.00 million, a P/E ratio of -2.81 and a beta of -0.30. The stock has a 50-day simple moving average of $3.98 and a 200-day simple moving average of $5.99.

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Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. As a group, sell-side analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Transactions at Terns Pharmaceuticals

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

Hedge Funds Weigh In On Terns Pharmaceuticals

Several large investors have recently added to or reduced their stakes in TERN. Rhumbline Advisers increased its position in shares of Terns Pharmaceuticals by 16.0% during the fourth quarter. Rhumbline Advisers now owns 97,892 shares of the company's stock valued at $542,000 after purchasing an additional 13,479 shares during the period. Telemark Asset Management LLC acquired a new stake in Terns Pharmaceuticals during the third quarter worth $2,502,000. Charles Schwab Investment Management Inc. increased its holdings in Terns Pharmaceuticals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company's stock valued at $1,290,000 after buying an additional 1,994 shares during the period. Bellevue Group AG bought a new stake in Terns Pharmaceuticals in the 3rd quarter valued at $8,691,000. Finally, Parkman Healthcare Partners LLC raised its stake in shares of Terns Pharmaceuticals by 39.8% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 545,751 shares of the company's stock valued at $4,552,000 after buying an additional 155,481 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

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.