Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley Sells 6,240 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 6,240 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $35,692.80. Following the completion of the transaction, the director now owns 8,760 shares of the company’s stock, valued at approximately $50,107.20. This represents a 41.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jill M. Quigley also recently made the following trade(s):

• On Monday, January 6th, Jill M. Quigley sold 8,760 shares of Terns Pharmaceuticals stock. The stock was sold at an average price of $5.79, for a total transaction of $50,720.40.

Terns Pharmaceuticals Stock Down 0.7 %

Shares of TERN traded down $0.04 on Monday, hitting $5.71. 1,252,259 shares of the stock traded hands, compared to its average volume of 1,424,849. Terns Pharmaceuticals, Inc. has a 1 year low of $4.32 and a 1 year high of $11.40. The stock’s 50 day moving average is $6.35 and its two-hundred day moving average is $7.41. The firm has a market capitalization of $485.00 million, a P/E ratio of -4.84 and a beta of -0.31.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.05. Research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on TERN shares. HC Wainwright restated a “neutral” rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Oppenheimer lifted their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.30.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several large investors have recently added to or reduced their stakes in TERN. Virtu Financial LLC grew its holdings in Terns Pharmaceuticals by 110.2% in the 3rd quarter. Virtu Financial LLC now owns 62,216 shares of the company’s stock valued at $519,000 after buying an additional 32,624 shares during the period. Geode Capital Management LLC grew its holdings in Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock valued at $10,072,000 after purchasing an additional 85,617 shares during the period. XTX Topco Ltd purchased a new stake in Terns Pharmaceuticals in the third quarter valued at approximately $148,000. Point72 Asset Management L.P. increased its position in Terns Pharmaceuticals by 0.6% during the third quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock worth $22,581,000 after purchasing an additional 17,139 shares during the last quarter. Finally, Polymer Capital Management HK LTD purchased a new position in Terns Pharmaceuticals during the third quarter worth approximately $200,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

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.