Terns Pharmaceuticals (NASDAQ:TERN) Earns Market Perform Rating from William Blair

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market perform” rating reissued by investment analysts at William Blair in a note issued to investors on Friday,RTT News reports.

TERN has been the topic of several other reports. HC Wainwright restated a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer upped their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $18.30.

Terns Pharmaceuticals Stock Performance

TERN stock opened at $3.35 on Friday. The stock’s fifty day moving average is $4.04 and its two-hundred day moving average is $6.06. The stock has a market capitalization of $284.55 million, a price-to-earnings ratio of -2.84 and a beta of -0.30. Terns Pharmaceuticals has a 1 year low of $3.08 and a 1 year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.06. As a group, analysts predict that Terns Pharmaceuticals will post -1.19 EPS for the current fiscal year.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total value of $25,586.51. Following the completion of the sale, the insider now directly owns 54,269 shares of the company’s stock, valued at approximately $309,875.99. This represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Vignola sold 9,059 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the transaction, the chief financial officer now owns 74,752 shares of the company’s stock, valued at approximately $433,561.60. This trade represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock valued at $211,040 over the last 90 days. 15.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Infinitum Asset Management LLC bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter worth $1,108,000. Woodline Partners LP lifted its holdings in shares of Terns Pharmaceuticals by 3.4% during the fourth quarter. Woodline Partners LP now owns 311,612 shares of the company’s stock valued at $1,726,000 after purchasing an additional 10,388 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at $94,000. Soleus Capital Management L.P. boosted its position in shares of Terns Pharmaceuticals by 30.8% in the 4th quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock valued at $45,109,000 after purchasing an additional 1,918,956 shares during the period. Finally, Tema Etfs LLC purchased a new position in Terns Pharmaceuticals in the 4th quarter worth about $442,000. 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.