Terns Pharmaceuticals (NASDAQ:TERN) Earns “Neutral” Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $5.50 price target on the stock.

A number of other research analysts have also commented on TERN. JMP Securities decreased their price target on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an outperform rating on the stock in a research note on Monday, March 18th. UBS Group decreased their target price on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a buy rating on the stock in a research report on Wednesday, March 27th. Finally, BMO Capital Markets increased their target price on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the stock an outperform rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Terns Pharmaceuticals presently has an average rating of Moderate Buy and a consensus price target of $14.94.

Terns Pharmaceuticals Stock Up 2.8 %

Shares of TERN stock traded up $0.15 on Tuesday, reaching $5.44. The stock had a trading volume of 564,418 shares, compared to its average volume of 847,361. The firm’s 50-day moving average is $6.18 and its two-hundred day moving average is $5.84. The firm 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 12 month low of $3.26 and a 12 month high of $13.51.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, meeting analysts’ consensus estimates of ($0.29). On average, sell-side analysts forecast that Terns Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

Insider Activity at Terns Pharmaceuticals

In related news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total value of $856,009.20. Following the completion of the transaction, the insider now owns 268,573 shares of the company’s stock, valued at approximately $1,665,152.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Braidwell LP raised its stake in shares of Terns Pharmaceuticals by 54.2% during the third quarter. Braidwell LP now owns 2,840,052 shares of the company’s stock valued at $14,285,000 after acquiring an additional 997,700 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Terns Pharmaceuticals by 7.4% during the fourth quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock valued at $14,978,000 after acquiring an additional 159,013 shares during the last quarter. Great Point Partners LLC raised its stake in shares of Terns Pharmaceuticals by 102.8% during the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after acquiring an additional 664,076 shares during the last quarter. Decheng Capital LLC bought a new position in shares of Terns Pharmaceuticals during the fourth quarter valued at $4,636,000. Finally, Affinity Asset Advisors LLC bought a new position in shares of Terns Pharmaceuticals during the third quarter valued at $1,635,000. 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.