Terns Pharmaceuticals (NASDAQ:TERN) Shares Up 4.8% – Here’s Why

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) shares rose 4.8% during mid-day trading on Friday . The company traded as high as $46.59 and last traded at $46.3760. Approximately 1,752,743 shares were traded during trading, a decline of 15% from the average daily volume of 2,072,093 shares. The stock had previously closed at $44.24.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TERN. BMO Capital Markets upped their target price on Terns Pharmaceuticals from $35.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Oppenheimer lifted their price target on Terns Pharmaceuticals from $28.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a research note on Wednesday, November 26th. Truist Financial increased their price objective on Terns Pharmaceuticals from $35.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, HC Wainwright raised their price objective on shares of Terns Pharmaceuticals from $20.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $58.11.

Terns Pharmaceuticals Stock Up 5.2%

The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of -45.17 and a beta of -0.31. The company’s 50-day simple moving average is $38.76 and its 200 day simple moving average is $26.24.

Insider Activity

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 1,155 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $38.57, for a total transaction of $44,548.35. Following the completion of the sale, the insider owned 50,365 shares of the company’s stock, valued at $1,942,578.05. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy L. Burroughs sold 14,583 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $39.19, for a total value of $571,507.77. Following the transaction, the chief executive officer owned 288,976 shares in the company, valued at approximately $11,324,969.44. This trade represents a 4.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 155,826 shares of company stock valued at $5,882,597. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Terns Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Commodore Capital LP bought a new stake in shares of Terns Pharmaceuticals during the 3rd quarter worth $42,807,000. Vestal Point Capital LP bought a new position in Terns Pharmaceuticals in the 4th quarter worth $181,800,000. Janus Henderson Group PLC bought a new position in Terns Pharmaceuticals in the 4th quarter worth $136,496,000. Capitolis Liquid Global Markets LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth $123,026,000. Finally, Lord Abbett & CO. LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth $109,581,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Company Profile

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.