Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Terns Pharmaceuticals has received a consensus recommendation of "Moderate Buy" from five research firms, with an average 1-year price target of $15.625.
• Insider trading activity shows significant buy transactions, with CEO Amy L. Burroughs increasing her shares by 98.09% and CFO Andrew Gengos increasing his position by 66.67%.
• Institutional investors hold 98.26% of Terns Pharmaceuticals' stock, indicating strong institutional interest in the company.

Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $15.6250.

Separately, BMO Capital Markets cut their price objective on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, CEO Amy L. Burroughs acquired 23,314 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were bought at an average cost of $3.87 per share, with a total value of $90,225.18. Following the completion of the transaction, the chief executive officer directly owned 47,083 shares of the company's stock, valued at $182,211.21. This trade represents a 98.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew Gengos bought 10,000 shares of the business's stock in a transaction dated Friday, June 27th. The shares were bought at an average price of $3.93 per share, with a total value of $39,300.00. Following the purchase, the chief financial officer owned 25,000 shares in the company, valued at $98,250. The trade was a 66.67% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 48,314 shares of company stock valued at $186,575 in the last ninety days. Insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acorn Capital Advisors LLC acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth approximately $10,921,000. Soleus Capital Management L.P. increased its stake in shares of Terns Pharmaceuticals by 30.8% during the fourth 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. Nuveen LLC acquired a new stake in Terns Pharmaceuticals during the 1st quarter worth approximately $3,880,000. Adage Capital Partners GP L.L.C. acquired a new stake in Terns Pharmaceuticals during the 2nd quarter worth approximately $4,774,000. Finally, Franklin Resources Inc. bought a new stake in Terns Pharmaceuticals in the 2nd quarter valued at $4,765,000. Institutional investors and hedge funds own 98.26% of the company's stock.

Terns Pharmaceuticals Trading Down 5.0%

NASDAQ:TERN opened at $6.89 on Thursday. Terns Pharmaceuticals has a 1-year low of $1.87 and a 1-year high of $11.40. The business's 50-day moving average price is $5.45 and its two-hundred day moving average price is $3.99. The firm has a market capitalization of $602.94 million, a price-to-earnings ratio of -6.63 and a beta of -0.05.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. Sell-side analysts predict that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

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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