Terns Pharmaceuticals (NASDAQ:TERN) Sees Large Volume Increase – What’s Next?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) saw an uptick in trading volume on Tuesday . 11,416,575 shares were traded during mid-day trading, an increase of 162% from the previous session’s volume of 4,355,876 shares.The stock last traded at $52.5950 and had previously closed at $52.78.

Analyst Ratings Changes

TERN has been the topic of several research reports. TD Cowen lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research report on Thursday, March 26th. Leerink Partners initiated coverage on Terns Pharmaceuticals in a research report on Monday, February 9th. They issued an “outperform” rating and a $58.00 target price on the stock. Barclays reaffirmed an “equal weight” rating and issued a $53.00 target price (down from $56.00) on shares of Terns Pharmaceuticals in a research report on Monday, March 30th. Truist Financial lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price objective for the company from $56.00 to $53.00 in a report on Tuesday, March 31st. Finally, Mizuho lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.30.

Terns Pharmaceuticals Trading Down 0.3%

The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -51.10 and a beta of -0.37. The stock has a fifty day moving average price of $43.32 and a 200 day moving average price of $31.28.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Thursday, April 2nd. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. On average, sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Insider Buying and Selling

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs sold 14,583 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $46.71, for a total value of $681,171.93. Following the sale, the chief executive officer owned 288,976 shares of the company’s stock, valued at $13,498,068.96. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Emil Kuriakose sold 942 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total value of $49,690.50. Following the completion of the sale, the insider directly owned 105,673 shares in the company, valued at $5,574,250.75. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,857 shares of company stock worth $3,850,896 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Terns Pharmaceuticals in the 4th quarter valued at approximately $25,000. GAMMA Investing LLC lifted its position in shares of Terns Pharmaceuticals by 762.4% in the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after acquiring an additional 770 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Terns Pharmaceuticals in the 2nd quarter worth approximately $41,000. iA Global Asset Management Inc. bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $43,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Terns Pharmaceuticals in the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.