Vivo Opportunity, Llc Sells 181,117 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) major shareholder Vivo Opportunity, Llc sold 181,117 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $6.99, for a total value of $1,266,007.83. Following the sale, the insider now owns 275,772 shares in the company, valued at approximately $1,927,646.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Vivo Opportunity, Llc also recently made the following trade(s):

• On Wednesday, April 3rd, Vivo Opportunity, Llc sold 138,066 shares of Terns Pharmaceuticals stock. The stock was sold at an average price of $6.20, for a total transaction of $856,009.20.

Terns Pharmaceuticals Stock Down 8.5 %

Shares of TERN stock opened at $5.49 on Friday. Terns Pharmaceuticals, Inc. has a 12-month low of $3.26 and a 12-month high of $14.04. The firm has a 50 day moving average price of $6.75 and a two-hundred day moving average price of $5.86. The company has a market capitalization of $354.93 million, a PE ratio of -4.32 and a beta of -0.63.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.29). As a group, research analysts expect that Terns Pharmaceuticals, Inc. will post -1.44 EPS for the current year.

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Boothbay Fund Management LLC raised its stake in Terns Pharmaceuticals by 1.3% in the 1st quarter. Boothbay Fund Management LLC now owns 127,552 shares of the company’s stock worth $1,510,000 after purchasing an additional 1,670 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Terns Pharmaceuticals by 16.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 19,769 shares of the company’s stock worth $128,000 after purchasing an additional 2,789 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of Terns Pharmaceuticals in the second quarter valued at approximately $25,000. Alps Advisors Inc. boosted its stake in shares of Terns Pharmaceuticals by 8.1% in the third quarter. Alps Advisors Inc. now owns 45,028 shares of the company’s stock valued at $226,000 after buying an additional 3,363 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in Terns Pharmaceuticals during the second quarter worth approximately $31,000. Institutional investors own 98.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TERN. JMP Securities cut their price target on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Terns Pharmaceuticals in a research note on Friday, March 15th. UBS Group lowered their price target on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Finally, BMO Capital Markets raised their price objective on Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Terns Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $14.94.

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.