Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Purchases $110,467.50 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy L. Burroughs bought 15,450 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average price of $7.15 per share, with a total value of $110,467.50. Following the acquisition, the chief executive officer now directly owns 19,099 shares in the company, valued at $136,557.85. The trade was a 423.40 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Terns Pharmaceuticals Trading Up 5.2 %

NASDAQ:TERN opened at $6.92 on Wednesday. Terns Pharmaceuticals, Inc. has a 12-month low of $4.32 and a 12-month high of $11.40. The firm has a market cap of $587.78 million, a PE ratio of -5.95 and a beta of -0.36. The stock has a fifty day moving average price of $6.94 and a 200 day moving average price of $7.53.

Terns Pharmaceuticals (NASDAQ:TERN) last announced 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. Equities analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Wall Street Analyst Weigh In

TERN has been the subject of a number of research reports. Oppenheimer lifted their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. HC Wainwright reiterated a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TERN. Bellevue Group AG acquired a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at $8,691,000. Point72 Asset Management L.P. lifted its holdings in Terns Pharmaceuticals by 21.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after buying an additional 469,176 shares during the last quarter. Telemark Asset Management LLC purchased a new stake in Terns Pharmaceuticals during the 3rd quarter worth about $2,502,000. Walleye Capital LLC purchased a new position in shares of Terns Pharmaceuticals in the 3rd quarter valued at about $1,550,000. Finally, Cinctive Capital Management LP purchased a new position in shares of Terns Pharmaceuticals in the 3rd quarter valued at about $1,406,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

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.