Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) Director Jill M. Quigley sold 8,760 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.79, for a total transaction of $50,720.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NASDAQ TERN traded down $0.04 during mid-day trading on Monday, hitting $5.71. 1,252,259 shares of the stock were exchanged, compared to its average volume of 1,424,849. The company has a market cap of $485.00 million, a P/E 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's fifty day simple moving average is $6.35 and its two-hundred day simple moving average is $7.41.
Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings data 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, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.
TERN has been the subject of several recent research reports. Oppenheimer increased their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. BMO Capital Markets reiterated an "outperform" rating and issued a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. JMP Securities restated a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, HC Wainwright reiterated a "neutral" rating and issued a $7.50 price target on shares of Terns Pharmaceuticals 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.30.
Read Our Latest Stock Analysis on TERN
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bellevue Group AG acquired a new stake in Terns Pharmaceuticals in the 3rd quarter valued at about $8,691,000. Point72 Asset Management L.P. grew its stake in shares of Terns Pharmaceuticals by 21.1% during the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company's stock valued at $18,321,000 after purchasing an additional 469,176 shares during the last quarter. Telemark Asset Management LLC bought a new position in Terns Pharmaceuticals in the 3rd quarter worth approximately $2,502,000. Walleye Capital LLC acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth $1,550,000. Finally, Cinctive Capital Management LP acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth $1,406,000. Institutional investors and hedge funds own 98.26% of the company's stock.
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.
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