Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Insider Melita Sun Jung Purchases 2,250 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Melita Sun Jung acquired 2,250 shares of the firm’s stock in a transaction that occurred on Saturday, November 30th. The shares were bought at an average cost of $5.11 per share, for a total transaction of $11,497.50. Following the acquisition, the insider now owns 2,250 shares of the company’s stock, valued at $11,497.50. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Terns Pharmaceuticals Stock Down 2.0 %

NASDAQ:TERN opened at $4.37 on Tuesday. The business’s 50 day moving average is $5.57 and its two-hundred day moving average is $6.98. Terns Pharmaceuticals, Inc. has a 52 week low of $4.16 and a 52 week high of $11.40. The company has a market cap of $371.19 million, a PE ratio of -3.70 and a beta of -0.34.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping 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

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

Institutional Investors Weigh In On Terns Pharmaceuticals

Several hedge funds have recently modified their holdings of TERN. nVerses Capital LLC acquired a new position in Terns Pharmaceuticals during the third quarter valued at $48,000. Sio Capital Management LLC bought a new position in Terns Pharmaceuticals during the third quarter valued at about $83,000. Entropy Technologies LP bought a new stake in Terns Pharmaceuticals during the third quarter worth approximately $106,000. Bleakley Financial Group LLC lifted its position in Terns Pharmaceuticals by 26.0% during the 3rd 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 last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake 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 valued at $113,000 after purchasing an additional 5,935 shares during the period. 98.26% of the stock is 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.