Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Sells $509,760.00 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Carl L. Gordon sold 50,976 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $10.00, for a total transaction of $509,760.00. Following the sale, the director now owns 756,258 shares in the company, valued at $7,562,580. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Terns Pharmaceuticals Trading Down 0.6 %

Shares of NASDAQ:TERN traded down $0.06 on Wednesday, hitting $9.64. The company had a trading volume of 2,347,435 shares, compared to its average volume of 999,479. The business has a 50 day moving average of $7.01 and a 200 day moving average of $6.46. Terns Pharmaceuticals, Inc. has a 52-week low of $3.26 and a 52-week high of $10.03. The company has a market cap of $623.52 million, a PE ratio of -7.65 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.06. As a group, equities analysts predict that Terns Pharmaceuticals, Inc. will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its position in shares of Terns Pharmaceuticals by 7.4% in the fourth quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock valued at $14,978,000 after purchasing an additional 159,013 shares during the period. Vanguard Group Inc. boosted its stake in Terns Pharmaceuticals by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after buying an additional 11,535 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Terns Pharmaceuticals by 40.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after buying an additional 578,500 shares during the period. Great Point Partners LLC increased its stake in shares of Terns Pharmaceuticals by 102.8% during the 4th quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after acquiring an additional 664,076 shares during the last quarter. Finally, Decheng Capital LLC purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter worth about $4,636,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. UBS Group reduced their price objective on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, HC Wainwright restated a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Terns Pharmaceuticals Company Profile

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.