Terns Pharmaceuticals (NASDAQ:TERN) CEO Sells $2,718,015.90 in Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy Burroughs sold 71,339 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $38.10, for a total transaction of $2,718,015.90. Following the sale, the chief executive officer directly owned 138,976 shares in the company, valued at approximately $5,294,985.60. This represents a 33.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Terns Pharmaceuticals Trading Down 5.6%

TERN stock opened at $37.77 on Friday. The firm has a 50 day moving average of $32.10 and a 200-day moving average of $15.47. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $48.26. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -36.67 and a beta of -0.28.

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

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock valued at $35,000 after buying an additional 770 shares during the period. JPMorgan Chase & Co. grew its stake in Terns Pharmaceuticals by 90.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 682,708 shares of the company’s stock worth $5,127,000 after acquiring an additional 324,502 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Terns Pharmaceuticals in the 3rd quarter valued at $95,000. Caxton Associates LLP purchased a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth $114,000. Finally, Polymer Capital Management US LLC purchased a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth $76,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TERN has been the topic of several recent research reports. William Blair upgraded shares of Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, November 3rd. Citigroup reaffirmed an “outperform” rating on shares of Terns Pharmaceuticals in a report on Wednesday, November 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research note on Monday, December 29th. Finally, Wall Street Zen raised Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Terns Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $55.56.

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.