Terns Pharmaceuticals (NASDAQ:TERN) Rating Reiterated by HC Wainwright

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “neutral” rating reaffirmed by equities researchers at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $5.50 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 9.34% from the stock’s previous close.

Several other research firms have also recently commented on TERN. UBS Group decreased their target price on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. BMO Capital Markets boosted their price objective on Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Finally, JMP Securities decreased their price target on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.94.

Terns Pharmaceuticals Stock Down 1.4 %

Shares of NASDAQ TERN traded down $0.07 during trading on Tuesday, reaching $5.03. The company had a trading volume of 555,715 shares, compared to its average volume of 844,279. The company’s fifty day moving average price is $6.34 and its 200-day moving average price is $5.85. Terns Pharmaceuticals has a 12 month low of $3.26 and a 12 month high of $13.51. The stock has a market cap of $325.34 million, a P/E ratio of -3.96 and a beta of -0.63.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, meeting analysts’ consensus estimates of ($0.29). As a group, equities analysts predict that Terns Pharmaceuticals will post -1.46 earnings per share for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In other news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total value of $856,009.20. Following the completion of the sale, the insider now owns 268,573 shares in the company, valued at $1,665,152.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Braidwell LP increased its holdings in Terns Pharmaceuticals by 54.2% during the third quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock worth $14,285,000 after buying an additional 997,700 shares during the last quarter. Decheng Capital LLC bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $4,636,000. Great Point Partners LLC lifted its stake in Terns Pharmaceuticals by 102.8% in the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after purchasing an additional 664,076 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in Terns Pharmaceuticals during the third quarter valued at $1,635,000. Finally, Russell Investments Group Ltd. purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth $1,803,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.