Terns Pharmaceuticals (NASDAQ:TERN) CEO Amy Burroughs Sells 14,583 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy Burroughs sold 14,583 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $46.71, for a total transaction of $681,171.93. Following the completion of the sale, the chief executive officer owned 288,976 shares of the company’s stock, valued at approximately $13,498,068.96. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Terns Pharmaceuticals Stock Up 0.9%

Shares of TERN opened at $46.47 on Wednesday. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $48.26. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of -45.12 and a beta of -0.31. The stock’s 50-day moving average price is $39.06 and its 200 day moving average price is $26.93.

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its holdings in shares of Terns Pharmaceuticals by 136.8% during the first quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock worth $78,000 after buying an additional 16,363 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Terns Pharmaceuticals in the 1st quarter worth approximately $51,000. Goldman Sachs Group Inc. grew its position in Terns Pharmaceuticals by 21.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock worth $1,145,000 after acquiring an additional 71,971 shares during the last quarter. Geode Capital Management LLC grew its position in Terns Pharmaceuticals by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company’s stock worth $6,094,000 after acquiring an additional 59,145 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in Terns Pharmaceuticals by 15.5% during the 2nd quarter. Intech Investment Management LLC now owns 46,121 shares of the company’s stock valued at $172,000 after purchasing an additional 6,199 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Terns Pharmaceuticals from $36.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Citizens Jmp lifted their price target on shares of Terns Pharmaceuticals from $35.00 to $57.00 and gave the stock a “market outperform” rating in a research note on Thursday, December 11th. TD Cowen raised shares of Terns Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 20th. Jefferies Financial Group restated a “buy” rating and issued a $70.00 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 10th. Finally, Leerink Partners started coverage on shares of Terns Pharmaceuticals in a report on Monday, February 9th. They set an “outperform” rating and a $58.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $58.11.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical?stage biopharmaceutical company focused on developing oral small?molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.