Stock Traders Buy High Volume of Terns Pharmaceuticals Put Options (NASDAQ:TERN)

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) saw some unusual options trading on Friday. Stock investors bought 7,719 put options on the stock. This represents an increase of 96% compared to the typical volume of 3,932 put options.

Terns Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:TERN opened at $52.92 on Friday. The business’s 50 day moving average is $41.28 and its 200 day moving average is $29.06. Terns Pharmaceuticals has a 12-month low of $1.87 and a 12-month high of $53.19. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -51.38 and a beta of -0.31.

Insider Transactions at Terns Pharmaceuticals

In related news, CEO Amy L. Burroughs sold 14,583 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $46.71, for a total value of $681,171.93. Following the completion of the sale, the chief executive officer directly owned 288,976 shares of the company’s stock, valued at $13,498,068.96. The trade was a 4.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $44,548.35. Following the transaction, the insider directly owned 50,365 shares in the company, valued at approximately $1,942,578.05. This trade represents a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 170,409 shares of company stock valued at $6,563,769 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Terns Pharmaceuticals during the fourth quarter worth about $25,000. GAMMA Investing LLC boosted its stake in Terns Pharmaceuticals by 762.4% in the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock valued at $35,000 after acquiring an additional 770 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Terns Pharmaceuticals during the 2nd quarter valued at approximately $41,000. iA Global Asset Management Inc. purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $43,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Terns Pharmaceuticals during the 2nd quarter worth approximately $46,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Key Terns Pharmaceuticals News

Here are the key news stories impacting Terns Pharmaceuticals this week:

• Positive Sentiment: Merck agreed to acquire Terns for about $6.7 billion in cash, bringing a late‑stage leukemia candidate into MRK’s oncology lineup—this deal narrative is the primary bullish catalyst supporting a sharp rally toward the $53 offer price. Merck to Buy Terns for $6.7 Billion to Grow in Blood Cancers
• Positive Sentiment: Analysts and news outlets emphasize Merck’s acquisition as strategic—adding a leukemia asset as Keytruda faces patent pressure—supporting upside sentiment for TERN shares. Merck to Boost Oncology Pipeline With $6.7B Terns Buyout, Stock Up
• Positive Sentiment: Market commentary notes a possible bidding‑war dynamic after the Merck approach, which can lift the stock above the announced offer if other suitors emerge. Merck’s deal for Terns sparks debate over a possible biotech bidding war
• Positive Sentiment: Market reaction has pushed TERN to a new 52‑week high as investors price in the deal and potential takeover premium. Terns Pharmaceuticals (NASDAQ:TERN) Hits New 52-Week High – Still a Buy?
• Neutral Sentiment: HC Wainwright reiterated a “Neutral” rating and published FY2030 estimates and a $53.00 price target—its view aligns with the announced cash price, leaving limited analyst upside ahead of deal closure. HC Wainwright Reaffirms Neutral Rating for Terns Pharmaceuticals (NASDAQ:TERN)
• Negative Sentiment: Unusually large put option activity was reported (7,719 puts, a ~96% increase vs. typical put volume), suggesting some traders are hedging or positioning for downside/uncertainty around deal terms or timing.
• Negative Sentiment: A shareholder law firm (Kahn Swick & Foti) opened an investigation into the adequacy of the $53 per‑share price and the sale process, which could lead to litigation or delay and adds execution risk. Terns Pharmaceuticals Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Terns Pharmaceuticals, Inc. – TERN
• Negative Sentiment: Several brokers trimmed coverage or lowered stances to “Hold” (Citizens/JMP, TD Cowen), reducing near‑term buy-side reinforcement; TD Cowen’s $53 target effectively prices the deal in with little upside. Benzinga

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TERN. Mizuho increased their target price on Terns Pharmaceuticals from $33.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Wall Street Zen lowered shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Jefferies Financial Group restated a “buy” rating and set a $70.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research note on Monday, December 29th. Finally, Truist Financial lifted their price objective on shares of Terns Pharmaceuticals from $35.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $56.90.

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.