Insider Buying: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Buys 23,314 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) CEO Amy L. Burroughs bought 23,314 shares of the stock in a transaction on Wednesday, June 25th. The shares were purchased at an average price of $3.87 per share, with a total value of $90,225.18. Following the acquisition, the chief executive officer now owns 47,083 shares in the company, valued at approximately $182,211.21. This represents a 98.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Terns Pharmaceuticals Price Performance

Shares of Terns Pharmaceuticals stock traded up $0.27 during midday trading on Wednesday, reaching $4.06. The company had a trading volume of 866,311 shares, compared to its average volume of 1,494,969. Terns Pharmaceuticals, Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $11.40. The stock has a fifty day moving average price of $3.25 and a 200 day moving average price of $3.90.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. As a group, research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Wall Street Analysts Forecast Growth

TERN has been the topic of a number of analyst reports. William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. BMO Capital Markets cut their price objective on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, JMP Securities reissued a "market outperform" rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Terns Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $15.63.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in Terns Pharmaceuticals by 16.0% in the 4th quarter. Rhumbline Advisers now owns 97,892 shares of the company's stock valued at $542,000 after purchasing an additional 13,479 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Terns Pharmaceuticals by 84.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 67,002 shares of the company's stock worth $371,000 after purchasing an additional 30,610 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Terns Pharmaceuticals by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 186,308 shares of the company's stock valued at $1,032,000 after buying an additional 24,930 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Terns Pharmaceuticals by 33.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 206,450 shares of the company's stock valued at $1,144,000 after purchasing an additional 51,736 shares in the last quarter. Finally, Candriam S.C.A. purchased a new position in Terns Pharmaceuticals during the 4th quarter valued at about $11,933,000. 98.26% of the stock is owned by hedge funds and other 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.

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