Emil Kuriakose Sells 4,481 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total value of $25,586.51. Following the completion of the sale, the insider now owns 54,269 shares in the company, valued at $309,875.99. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Terns Pharmaceuticals Price Performance

Terns Pharmaceuticals stock opened at $5.63 on Wednesday. Terns Pharmaceuticals, Inc. has a one year low of $4.32 and a one year high of $11.40. The business’s fifty day moving average is $6.32 and its 200 day moving average is $7.40. The stock has a market capitalization of $478.21 million, a PE ratio of -4.77 and a beta of -0.31.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.05. As a group, sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. BMO Capital Markets reissued an “outperform” rating and set a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. HC Wainwright reaffirmed a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer increased 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 analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $18.30.

Institutional Investors Weigh In On Terns Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its stake in Terns Pharmaceuticals by 110.2% during 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock worth $10,072,000 after acquiring an additional 85,617 shares during the period. XTX Topco Ltd purchased a new stake in Terns Pharmaceuticals during the third quarter valued at $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 valued at $22,581,000 after acquiring an additional 17,139 shares during the last quarter. Finally, Polymer Capital Management HK LTD bought a new position in Terns Pharmaceuticals in the third quarter valued at about $200,000. Hedge funds and other 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.