Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley Sells 17,235 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Jill M. Quigley sold 17,235 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $150,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Terns Pharmaceuticals Trading Down 5.8 %

NASDAQ:TERN opened at $8.96 on Friday. Terns Pharmaceuticals, Inc. has a 12-month low of $3.26 and a 12-month high of $11.40. The stock’s 50 day simple moving average is $8.07 and its 200-day simple moving average is $6.95. The firm has a market cap of $579.21 million, a P/E ratio of -7.11 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.04. Research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Institutional Trading of Terns Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Terns Pharmaceuticals by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after purchasing an additional 2,261 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Terns Pharmaceuticals by 66.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock worth $78,000 after purchasing an additional 4,742 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Terns Pharmaceuticals by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after buying an additional 5,049 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Terns Pharmaceuticals by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock valued at $437,000 after buying an additional 9,635 shares during the period. Finally, Simplicity Wealth LLC purchased a new stake in shares of Terns Pharmaceuticals in the second quarter valued at approximately $72,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Analyst Upgrades and Downgrades

TERN has been the topic of a number of recent research reports. JMP Securities lifted their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a report on Tuesday. BMO Capital Markets restated an “outperform” rating and issued a $19.00 price objective on shares of Terns Pharmaceuticals in a research note on Tuesday, August 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Terns Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $14.50.

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.