Insider Selling: Terns Pharmaceuticals (NASDAQ:TERN) CEO Sells $2,548,525.43 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy Burroughs sold 68,749 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $37.07, for a total transaction of $2,548,525.43. Following the sale, the chief executive officer directly owned 288,976 shares of the company’s stock, valued at $10,712,340.32. This represents a 19.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Terns Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:TERN traded down $0.38 during midday trading on Friday, hitting $36.60. The stock had a trading volume of 1,918,829 shares, compared to its average volume of 2,519,463. Terns Pharmaceuticals, Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $48.26. The company has a market capitalization of $3.30 billion, a P/E ratio of -35.53 and a beta of -0.28. The company’s 50-day moving average price is $34.14 and its 200-day moving average price is $16.58.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. Research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Analysts Set New Price Targets

TERN has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Terns Pharmaceuticals from $36.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. UBS Group raised Terns Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research note on Monday, December 29th. William Blair upgraded shares of Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, November 3rd. Finally, Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.56.

Institutional Trading of Terns Pharmaceuticals

A number of institutional investors have recently modified their holdings of TERN. GAMMA Investing LLC lifted its position in shares of Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after acquiring an additional 770 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at about $41,000. Canada Pension Plan Investment Board bought a new stake in shares of Terns Pharmaceuticals during the 2nd quarter worth $46,000. LeConte Wealth Management LLC purchased a new position in Terns Pharmaceuticals in the second quarter worth $47,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Terns Pharmaceuticals in the 1st quarter worth about $51,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

About Terns Pharmaceuticals

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.