Amy L. Burroughs Acquires 23,314 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) CEO Amy L. Burroughs acquired 23,314 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average price of $3.87 per share, for a total transaction of $90,225.18. Following the completion of the transaction, the chief executive officer now owns 47,083 shares in the company, valued at $182,211.21. The trade was a 98.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Terns Pharmaceuticals Trading Down 4.3%

Shares of NASDAQ:TERN traded down $0.17 during midday trading on Friday, hitting $3.83. 1,459,879 shares of the stock were exchanged, compared to its average volume of 1,493,396. The stock has a market cap of $334.51 million, a P/E ratio of -3.51 and a beta of -0.18. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40. The company has a 50 day moving average price of $3.35 and a 200-day moving average price of $3.86.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly 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. On average, equities research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised 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 last quarter. LPL Financial LLC raised its stake in Terns Pharmaceuticals by 397.2% in the 4th quarter. LPL Financial LLC now owns 252,325 shares of the company's stock valued at $1,398,000 after purchasing an additional 201,575 shares during the last quarter. Norges Bank acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at about $4,706,000. Parkman Healthcare Partners LLC raised its stake in Terns Pharmaceuticals by 51.9% in the 4th quarter. Parkman Healthcare Partners LLC now owns 829,105 shares of the company's stock valued at $4,593,000 after purchasing an additional 283,354 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Terns Pharmaceuticals by 30.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company's stock valued at $14,592,000 after purchasing an additional 617,009 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TERN shares. JMP Securities restated a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Finally, BMO Capital Markets decreased their target price on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.63.

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.