Insider Buying: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Buys 5,000 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) CFO Andrew Gengos purchased 5,000 shares of Terns Pharmaceuticals stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $3.95 per share, with a total value of $19,750.00. Following the transaction, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $59,250. The trade was a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, 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 shares were acquired at an average cost of $3.73 per share, with a total value of $37,300.00.

Terns Pharmaceuticals Trading Up 3.4%

Terns Pharmaceuticals stock traded up $0.13 during midday trading on Monday, hitting $4.01. The stock had a trading volume of 462,725 shares, compared to its average volume of 1,500,307. The firm's fifty day moving average is $3.02 and its two-hundred day moving average is $4.01. The company has a market capitalization of $350.22 million, a PE ratio of -3.40 and a beta of -0.18. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $11.40.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Soleus Capital Management L.P. boosted its stake in Terns Pharmaceuticals by 30.8% in the 4th quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company's stock worth $45,109,000 after purchasing an additional 1,918,956 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in Terns Pharmaceuticals by 44.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company's stock worth $26,323,000 after purchasing an additional 1,461,680 shares during the period. Vanguard Group Inc. boosted its stake in Terns Pharmaceuticals by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock worth $21,437,000 after purchasing an additional 512,768 shares during the period. Nuveen Asset Management LLC boosted 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 worth $14,592,000 after purchasing an additional 617,009 shares during the period. Finally, Candriam S.C.A. bought a new position in Terns Pharmaceuticals in the 4th quarter worth approximately $11,933,000. 98.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TERN shares. William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. BMO Capital Markets reduced their target price on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a 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 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

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