Terns Pharmaceuticals (NASDAQ:TERN) Given “Neutral” Rating at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a report issued on Tuesday, Benzinga reports. They currently have a $5.50 target price on the stock.

Several other research firms have also issued reports on TERN. JMP Securities lowered their price target on Terns Pharmaceuticals from $17.00 to $15.00 and set an outperform rating for the company in a research report on Monday, March 18th. BMO Capital Markets boosted their target price on Terns Pharmaceuticals from $18.00 to $19.00 and gave the stock an outperform rating in a research report on Friday, March 15th. Finally, 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 report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Terns Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus target price of $14.94.

Terns Pharmaceuticals Stock Performance

Shares of TERN traded up $0.15 during trading hours on Tuesday, hitting $5.44. The company had a trading volume of 564,418 shares, compared to its average volume of 847,361. The firm has a fifty day moving average price of $6.18 and a 200-day moving average price of $5.84. The stock has a market capitalization of $351.86 million, a price-to-earnings ratio of -4.28 and a beta of -0.49. Terns Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $13.51.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.29). Research analysts anticipate that Terns Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Braidwell LP increased its stake in shares of Terns Pharmaceuticals by 54.2% in the third quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock worth $14,285,000 after purchasing an additional 997,700 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Terns Pharmaceuticals by 7.4% in the fourth quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after purchasing an additional 159,013 shares in the last quarter. Great Point Partners LLC increased its stake in shares of Terns Pharmaceuticals by 102.8% in the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock worth $8,502,000 after purchasing an additional 664,076 shares in the last quarter. Decheng Capital LLC purchased a new stake in shares of Terns Pharmaceuticals in the fourth quarter worth $4,636,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Terns Pharmaceuticals in the third quarter worth $1,635,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

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.