Insider Selling: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Sells $110,000.00 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Terns Pharmaceuticals Trading Down 5.8 %

Shares of NASDAQ:TERN opened at $8.96 on Friday. Terns Pharmaceuticals, Inc. has a 12-month low of $3.26 and a 12-month high of $11.40. The business’s fifty day simple moving average is $8.07 and its 200-day simple moving average is $6.94.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Monday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.04. As a group, equities analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.3 earnings per share for the current year.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of TERN. Simplicity Wealth LLC purchased a new position in Terns Pharmaceuticals in the second quarter worth $72,000. China Universal Asset Management Co. Ltd. grew its stake in Terns Pharmaceuticals by 66.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock worth $78,000 after buying an additional 4,742 shares during the last quarter. Walleye Trading LLC acquired a new position in Terns Pharmaceuticals during the 1st quarter valued at about $98,000. Kennedy Capital Management LLC purchased a new stake in Terns Pharmaceuticals in the first quarter valued at about $101,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Terns Pharmaceuticals in the fourth quarter worth about $106,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Wall Street Analyst Weigh In

TERN has been the subject of several research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $19.00 target price on shares of Terns Pharmaceuticals in a report on Tuesday, August 6th. JMP Securities upped their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

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.