Terns Pharmaceuticals (NASDAQ:TERN) Trading Down 4.4% – Time to Sell?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) was down 4.4% during mid-day trading on Thursday . The company traded as low as $39.70 and last traded at $40.1530. Approximately 517,427 shares traded hands during trading, a decline of 71% from the average daily volume of 1,815,120 shares. The stock had previously closed at $41.98.

Analyst Ratings Changes

TERN has been the topic of a number of recent analyst reports. Truist Financial upped their target price on shares of Terns Pharmaceuticals from $35.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. BMO Capital Markets raised their price target on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. HC Wainwright lifted their price objective on shares of Terns Pharmaceuticals from $20.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. William Blair upgraded Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, November 3rd. Finally, UBS Group raised shares of Terns Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.56.

Terns Pharmaceuticals Stock Down 5.0%

The firm has a 50-day moving average price of $21.82 and a two-hundred day moving average price of $11.46. The company has a market capitalization of $3.59 billion, a P/E ratio of -38.70 and a beta of -0.24.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. On average, analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Insider Transactions at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 24,520 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $18.00, for a total transaction of $441,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Terns Pharmaceuticals by 149.3% in the 1st quarter. Invesco Ltd. now owns 58,345 shares of the company’s stock valued at $161,000 after purchasing an additional 34,945 shares during the period. Goldman Sachs Group Inc. grew its stake in Terns Pharmaceuticals by 21.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock valued at $1,145,000 after buying an additional 71,971 shares in the last quarter. Candriam S.C.A. raised its stake in shares of Terns Pharmaceuticals by 9.9% during the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock valued at $8,834,000 after purchasing an additional 214,266 shares during the period. Graham Capital Management L.P. increased its position in shares of Terns Pharmaceuticals by 70.1% during the first quarter. Graham Capital Management L.P. now owns 226,295 shares of the company’s stock valued at $625,000 after buying an additional 93,296 shares during the period. Finally, DLD Asset Management LP purchased a new stake in Terns Pharmaceuticals in the 2nd quarter worth approximately $138,000. 98.26% of the stock is owned by 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.