Hongbo Lu Acquires 476,190 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Director Hongbo Lu purchased 476,190 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the transaction, the director now directly owns 476,190 shares of the company’s stock, valued at $4,999,995. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Terns Pharmaceuticals Trading Up 6.0 %

Shares of TERN stock opened at $10.21 on Thursday. Terns Pharmaceuticals, Inc. has a 52 week low of $3.26 and a 52 week high of $11.40. The company’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $6.99.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.04. On average, sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday. JMP Securities lifted their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.90.

Institutional Trading of Terns Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in Terns Pharmaceuticals by 7.4% in the 4th 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. Janus Henderson Group PLC raised its position in shares of Terns Pharmaceuticals by 40.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after buying an additional 578,500 shares in the last quarter. Great Point Partners LLC raised its position in shares of Terns Pharmaceuticals by 102.8% during the 4th quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after buying an additional 664,076 shares in the last quarter. Decheng Capital LLC purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $4,636,000. Finally, Russell Investments Group Ltd. raised its position in shares of Terns Pharmaceuticals by 127.9% during the 1st quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock valued at $4,152,000 after buying an additional 355,224 shares in the last quarter. Hedge funds and other 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.