Melita Sun Jung Acquires 2,250 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) insider Melita Sun Jung acquired 2,250 shares of the firm’s stock in a transaction on Saturday, November 30th. The shares were bought at an average cost of $5.11 per share, for a total transaction of $11,497.50. Following the completion of the acquisition, the insider now owns 2,250 shares of the company’s stock, valued at approximately $11,497.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Terns Pharmaceuticals Price Performance

TERN opened at $4.52 on Wednesday. The company’s 50 day simple moving average is $5.55 and its two-hundred day simple moving average is $6.95. Terns Pharmaceuticals, Inc. has a 1-year low of $4.16 and a 1-year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.05. Equities research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TERN. Oppenheimer raised their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright reaffirmed a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.30.

Institutional Trading of Terns Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Terns Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after acquiring an additional 1,994 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of Terns Pharmaceuticals by 26.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after purchasing an additional 2,751 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Terns Pharmaceuticals by 33.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after purchasing an additional 4,475 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Terns Pharmaceuticals by 28.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after buying an additional 5,049 shares during the period. Finally, Creative Planning raised its holdings in Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company’s stock valued at $211,000 after buying an additional 5,409 shares during the period. Institutional investors and hedge funds own 98.26% of the company’s stock.

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.