Terns Pharmaceuticals (NASDAQ:TERN) Stock Price Down 6.3% – Here’s Why

Terns Pharmaceuticals, Inc. (NASDAQ:TERN)’s stock price was down 6.3% during mid-day trading on Friday . The stock traded as low as $35.89 and last traded at $35.3750. Approximately 1,408,740 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 2,157,905 shares. The stock had previously closed at $37.77.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TERN. Weiss Ratings reiterated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a report on Monday, December 29th. Truist Financial lifted their target price on shares of Terns Pharmaceuticals from $35.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. BMO Capital Markets boosted their target price on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Barclays raised 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. Finally, Mizuho lifted their price target 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. One research analyst has 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.56.

Terns Pharmaceuticals Price Performance

The company has a market cap of $3.20 billion, a PE ratio of -34.45 and a beta of -0.28. The company’s 50 day simple moving average is $32.65 and its two-hundred day simple moving average is $15.78.

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

Insiders Place Their Bets

In other news, Director Jill M. Quigley sold 24,520 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total transaction of $441,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Emil Kuriakose sold 1,155 shares of Terns Pharmaceuticals stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $38.57, for a total value of $44,548.35. Following the completion of the sale, the insider directly owned 50,365 shares of the company’s stock, valued at $1,942,578.05. The trade was a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 97,014 shares of company stock worth $3,203,924 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of Terns Pharmaceuticals by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock valued at $1,145,000 after purchasing an additional 71,971 shares in the last quarter. Candriam S.C.A. lifted its holdings in Terns Pharmaceuticals by 9.9% during the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock worth $8,834,000 after buying an additional 214,266 shares in the last quarter. DLD Asset Management LP purchased a new position in Terns Pharmaceuticals in the 2nd quarter valued at approximately $138,000. Franklin Resources Inc. acquired a new position in shares of Terns Pharmaceuticals in the second quarter worth $4,765,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Terns Pharmaceuticals by 65.5% during the second quarter. Exchange Traded Concepts LLC now owns 227,847 shares of the company’s stock worth $850,000 after acquiring an additional 90,184 shares during the period. 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.