Amy L. Burroughs Purchases 15,450 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy L. Burroughs acquired 15,450 shares of Terns Pharmaceuticals stock in a transaction on Thursday, December 5th. The shares were bought at an average cost of $7.15 per share, for a total transaction of $110,467.50. Following the completion of the transaction, the chief executive officer now owns 19,099 shares in the company, valued at approximately $136,557.85. This trade represents a 423.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN opened at $6.58 on Tuesday. The company has a 50 day simple moving average of $6.97 and a two-hundred day simple moving average of $7.53. Terns Pharmaceuticals, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $11.40. The company has a market capitalization of $558.91 million, a price-to-earnings ratio of -5.58 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. On average, analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TERN shares. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. HC Wainwright restated a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, Oppenheimer upped their price target on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. increased its stake in Terns Pharmaceuticals by 0.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock valued at $22,581,000 after purchasing an additional 17,139 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Terns Pharmaceuticals by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after acquiring an additional 11,535 shares in the last quarter. Geode Capital Management LLC raised its holdings in Terns Pharmaceuticals by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock worth $10,072,000 after acquiring an additional 85,617 shares during the last quarter. Bellevue Group AG bought a new position in Terns Pharmaceuticals in the 3rd quarter valued at approximately $8,691,000. Finally, Parkman Healthcare Partners LLC boosted its stake in Terns Pharmaceuticals by 39.8% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 545,751 shares of the company’s stock valued at $4,552,000 after purchasing an additional 155,481 shares during the last quarter. Institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Company Profile

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.