Terns Pharmaceuticals (NASDAQ:TERN) Stock Price Down 8.7% – Time to Sell?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) fell 8.7% during trading on Friday . The stock traded as low as $5.97 and last traded at $5.98. 832,978 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 1,277,882 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

TERN has been the subject of a number of recent research reports. HC Wainwright boosted their price objective on Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Wednesday. Oppenheimer started coverage on shares of Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price target for the company. JMP Securities raised their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Terns Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Terns Pharmaceuticals Stock Down 5.8 %

The business’s fifty day simple moving average is $8.03 and its 200-day simple moving average is $7.48.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. On average, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.24 earnings per share for the current year.

Insider Activity

In other Terns Pharmaceuticals news, Director Hongbo Lu acquired 476,190 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the purchase, the director now directly owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the sale, the chief financial officer now owns 91,940 shares in the company, valued at $1,011,340. This represents a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several large investors have recently added to or reduced their stakes in TERN. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 1,994 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Terns Pharmaceuticals by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after buying an additional 2,261 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after buying an additional 2,751 shares during the period. The Manufacturers Life Insurance Company increased its position in Terns Pharmaceuticals by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after acquiring an additional 5,049 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Terns Pharmaceuticals by 27.2% in the third quarter. Creative Planning now owns 25,310 shares of the company’s stock valued at $211,000 after acquiring an additional 5,409 shares during the period. 98.26% of the stock is owned by institutional investors.

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.