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

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Melita Sun Jung acquired 2,250 shares of the business’s stock in a transaction dated Saturday, November 30th. The stock was acquired at an average cost of $5.11 per share, for a total transaction of $11,497.50. Following the transaction, the insider now owns 2,250 shares of the company’s stock, valued at $11,497.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Terns Pharmaceuticals Trading Down 2.0 %

TERN stock opened at $4.37 on Tuesday. The firm has a 50 day moving average of $5.57 and a 200-day moving average of $6.98. Terns Pharmaceuticals, Inc. has a 12 month low of $4.16 and a 12 month high of $11.40. The firm has a market capitalization of $371.19 million, a P/E ratio of -3.70 and a beta of -0.34.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. Sell-side analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TERN shares. Oppenheimer increased their price target on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright reiterated a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

Institutional Trading of Terns Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in shares of Terns Pharmaceuticals during the 3rd quarter valued at $48,000. Sio Capital Management LLC purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter worth $83,000. Savant Capital LLC purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter worth $89,000. China Universal Asset Management Co. Ltd. raised its position in shares of Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock valued at $100,000 after purchasing an additional 4,475 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Terns Pharmaceuticals during the third quarter worth $106,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

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.