Terns Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:TERN)

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) was the recipient of unusually large options trading on Friday. Stock traders bought 9,767 call options on the stock. This represents an increase of approximately 501% compared to the average volume of 1,624 call options.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TERN. Jefferies Financial Group restated a “buy” rating and issued a $70.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 10th. HC Wainwright increased their price target 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. Mizuho boosted their price objective on shares of Terns Pharmaceuticals from $33.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. UBS Group upgraded shares of Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. Finally, TD Cowen raised Terns Pharmaceuticals to a “strong-buy” rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $58.11.

Insider Transactions at Terns Pharmaceuticals

In other news, CEO Amy L. Burroughs sold 14,583 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $39.19, for a total value of $571,507.77. Following the completion of the sale, the chief executive officer owned 288,976 shares of the company’s stock, valued at approximately $11,324,969.44. The trade was a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Emil Kuriakose sold 1,155 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $38.57, for a total value of $44,548.35. Following 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 SEC filing for this sale provides additional information. In the last three months, insiders 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

Several institutional investors and hedge funds have recently bought and sold shares of TERN. Morgan Stanley grew its holdings in shares of Terns Pharmaceuticals by 4.7% during the 4th quarter. Morgan Stanley now owns 7,945,608 shares of the company’s stock worth $321,003,000 after acquiring an additional 356,513 shares during the period. Commodore Capital LP purchased a new stake in Terns Pharmaceuticals in the third quarter worth $42,807,000. Adage Capital Partners GP L.L.C. raised its holdings in Terns Pharmaceuticals by 40.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,550,000 shares of the company’s stock worth $224,220,000 after purchasing an additional 1,611,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Terns Pharmaceuticals by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 5,523,948 shares of the company’s stock valued at $223,167,000 after buying an additional 964,031 shares during the period. Finally, Vestal Point Capital LP bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $181,800,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Stock Up 5.1%

Shares of NASDAQ:TERN traded up $2.27 on Friday, hitting $46.51. The company had a trading volume of 2,100,048 shares, compared to its average volume of 2,079,581. The firm’s 50-day simple moving average is $38.63 and its two-hundred day simple moving average is $25.83. Terns Pharmaceuticals has a 1 year low of $1.87 and a 1 year high of $48.26. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -45.19 and a beta of -0.31.

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.