William Blair Reaffirms Market Perform Rating for Terns Pharmaceuticals (NASDAQ:TERN)

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “market perform” rating reiterated by stock analysts at William Blair in a note issued to investors on Friday,RTT News reports.

Several other research firms have also issued reports on TERN. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. HC Wainwright reiterated a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, Oppenheimer lifted their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Trading Up 8.4 %

Shares of Terns Pharmaceuticals stock traded up $0.27 during trading on Friday, hitting $3.41. 951,969 shares of the stock traded hands, compared to its average volume of 1,390,395. The firm has a market cap of $289.22 million, a P/E ratio of -2.90 and a beta of -0.30. Terns Pharmaceuticals has a 52-week low of $3.08 and a 52-week high of $11.40. The stock’s fifty day simple moving average is $4.07 and its 200 day simple moving average is $6.10.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. As a group, equities analysts expect that Terns Pharmaceuticals will post -1.19 EPS for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 8,760 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.79, for a total value of $50,720.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Vignola sold 8,129 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $46,497.88. Following the completion of the transaction, the chief financial officer now directly owns 83,811 shares of the company’s stock, valued at $479,398.92. The trade was a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,669 shares of company stock valued at $211,040. 15.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TERN. Infinitum Asset Management LLC purchased a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $1,108,000. Woodline Partners LP increased its position in shares of Terns Pharmaceuticals by 3.4% in the fourth quarter. Woodline Partners LP now owns 311,612 shares of the company’s stock valued at $1,726,000 after buying an additional 10,388 shares in the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $94,000. Soleus Capital Management L.P. increased its position in shares of Terns Pharmaceuticals by 30.8% in the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock valued at $45,109,000 after buying an additional 1,918,956 shares in the last quarter. Finally, Tema Etfs LLC purchased a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $442,000. 98.26% of the stock is owned by institutional investors and hedge funds.

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.