Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Andrew Gengos Buys 5,000 Shares

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) CFO Andrew Gengos bought 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $3.95 per share, for a total transaction of $19,750.00. Following the acquisition, the chief financial officer now directly owns 15,000 shares in the company, valued at $59,250. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Andrew Gengos also recently made the following trade(s):

• On Friday, June 13th, Andrew Gengos purchased 10,000 shares of Terns Pharmaceuticals stock. The stock was purchased at an average cost of $3.73 per share, with a total value of $37,300.00.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN traded up $0.10 during trading on Thursday, reaching $4.00. The company had a trading volume of 749,211 shares, compared to its average volume of 1,498,111. The company has a fifty day moving average of $3.12 and a two-hundred day moving average of $3.99. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Thrive Wealth Management LLC bought a new position in shares of Terns Pharmaceuticals during the 1st quarter valued at about $29,000. Landscape Capital Management L.L.C. purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth approximately $73,000. Townsquare Capital LLC bought a new position in Terns Pharmaceuticals during the fourth quarter valued at approximately $76,000. Vontobel Holding Ltd. bought a new position in Terns Pharmaceuticals during the first quarter valued at approximately $39,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Terns Pharmaceuticals during the fourth quarter worth approximately $86,000. 98.26% of the stock is currently 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.