Insider Buying: Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CFO Acquires 10,000 Shares of Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) CFO Andrew Gengos acquired 10,000 shares of the stock in a transaction dated Friday, June 27th. The stock was acquired at an average price of $3.93 per share, for a total transaction of $39,300.00. Following the completion of the acquisition, the chief financial officer directly owned 25,000 shares of the company's stock, valued at $98,250. The trade was a 66.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, June 16th, Andrew Gengos bought 5,000 shares of Terns Pharmaceuticals stock. The stock was purchased at an average cost of $3.95 per share, with a total value of $19,750.00.
• On Friday, June 13th, Andrew Gengos purchased 10,000 shares of Terns Pharmaceuticals stock. The shares were acquired at an average price of $3.73 per share, with a total value of $37,300.00.

Terns Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ TERN traded down $0.03 during trading on Thursday, reaching $4.23. The company had a trading volume of 263,302 shares, compared to its average volume of 1,472,171. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The stock has a market cap of $369.45 million, a P/E ratio of -3.88 and a beta of -0.11. The company's fifty day moving average price is $3.42 and its 200-day moving average price is $3.80.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings data 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 analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TERN. JMP Securities reissued a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a 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 price target 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.63.

Institutional Trading of Terns Pharmaceuticals

Several large investors have recently modified their holdings of TERN. Invesco Ltd. increased its stake in Terns Pharmaceuticals by 13.3% in the fourth quarter. Invesco Ltd. now owns 23,400 shares of the company's stock valued at $130,000 after purchasing an additional 2,753 shares in the last quarter. Corebridge Financial Inc. grew its stake in Terns Pharmaceuticals by 13.5% in the fourth quarter. Corebridge Financial Inc. now owns 34,951 shares of the company's stock valued at $194,000 after acquiring an additional 4,169 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Terns Pharmaceuticals by 26.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company's stock worth $220,000 after purchasing an additional 8,261 shares during the period. ProShare Advisors LLC grew its position in Terns Pharmaceuticals by 58.4% in the 4th quarter. ProShare Advisors LLC now owns 23,821 shares of the company's stock valued at $132,000 after purchasing an additional 8,784 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in Terns Pharmaceuticals by 27.7% during the fourth quarter. MetLife Investment Management LLC now owns 43,760 shares of the company's stock worth $242,000 after buying an additional 9,500 shares during the last quarter. Institutional investors and hedge funds 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.