Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Sells 6,143 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $7.68, for a total transaction of $47,178.24. Following the transaction, the director now directly owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Terns Pharmaceuticals Price Performance

Shares of TERN stock traded down $0.15 during trading hours on Monday, reaching $7.31. The stock had a trading volume of 877,045 shares, compared to its average volume of 1,000,537. Terns Pharmaceuticals, Inc. has a twelve month low of $3.26 and a twelve month high of $10.03. The firm has a 50-day simple moving average of $7.58 and a 200-day simple moving average of $6.64. The firm has a market capitalization of $472.81 million, a PE ratio of -6.05 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. On average, equities analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its position in shares of Terns Pharmaceuticals by 358.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock valued at $46,000 after purchasing an additional 5,587 shares in the last quarter. AJOVista LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $58,000. Simplicity Solutions LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $68,000. Bleakley Financial Group LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $68,000. Finally, Simplicity Wealth LLC bought a new position in shares of Terns Pharmaceuticals during the 2nd quarter valued at about $72,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TERN. JMP Securities restated a “market outperform” rating and issued a $15.00 price target on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. HC Wainwright reissued a “neutral” rating and set a $5.50 price target on shares of Terns Pharmaceuticals in a research report on Tuesday, May 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.50.

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.