Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells 9,059 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 9,059 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.80, for a total value of $52,542.20. Following the sale, the chief financial officer now directly owns 74,752 shares in the company, valued at $433,561.60. The trade was a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Terns Pharmaceuticals Trading Down 0.7 %

NASDAQ:TERN opened at $5.71 on Tuesday. The company has a market cap of $485.00 million, a price-to-earnings ratio of -4.84 and a beta of -0.31. Terns Pharmaceuticals, Inc. has a twelve month low of $4.32 and a twelve month high of $11.40. The stock has a fifty day simple moving average of $6.35 and a 200-day simple moving average of $7.41.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. As a group, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. HC Wainwright reissued a “neutral” rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. BMO Capital Markets reiterated an “outperform” rating and set 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 restated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer upped their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $18.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in Terns Pharmaceuticals during the 3rd quarter valued at $48,000. Sio Capital Management LLC purchased a new position in shares of Terns Pharmaceuticals during the third quarter valued at $83,000. Entropy Technologies LP bought a new stake in shares of Terns Pharmaceuticals in the third quarter valued at about $106,000. Bleakley Financial Group LLC lifted its stake in Terns Pharmaceuticals by 26.0% in the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after acquiring an additional 2,751 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Terns Pharmaceuticals by 78.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock worth $113,000 after acquiring an additional 5,935 shares in the last quarter. Institutional investors 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.