Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Insider Buys $11,497.50 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Melita Sun Jung purchased 2,250 shares of Terns Pharmaceuticals stock in a transaction that occurred on Saturday, November 30th. The stock was bought at an average cost of $5.11 per share, with a total value of $11,497.50. Following the completion of the transaction, the insider now owns 2,250 shares of the company’s stock, valued at $11,497.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Terns Pharmaceuticals Stock Performance

Shares of TERN opened at $4.66 on Thursday. Terns Pharmaceuticals, Inc. has a twelve month low of $4.16 and a twelve month high of $11.40. The firm’s 50-day moving average is $5.51 and its two-hundred day moving average is $6.93.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. On average, sell-side analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Institutional Trading of Terns Pharmaceuticals

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Terns Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after buying an additional 1,994 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in Terns Pharmaceuticals by 26.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after acquiring an additional 2,751 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Terns Pharmaceuticals by 33.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after acquiring an additional 4,475 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Terns Pharmaceuticals by 28.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after purchasing an additional 5,049 shares in the last quarter. Finally, Creative Planning grew its position 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 purchasing an additional 5,409 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Analyst Upgrades and Downgrades

TERN has been the subject of several research analyst reports. Oppenheimer increased their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. HC Wainwright restated a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.30.

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.