Terns Pharmaceuticals (NASDAQ:TERN) Trading Down 4.4% – What’s Next?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN)’s share price was down 4.4% during trading on Thursday . The company traded as low as $39.70 and last traded at $40.1530. Approximately 517,427 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,815,120 shares. The stock had previously closed at $41.98.

Analyst Upgrades and Downgrades

TERN has been the topic of a number of research reports. Citizens Jmp boosted their target price on shares of Terns Pharmaceuticals from $35.00 to $57.00 and gave the stock a “market outperform” rating in a research report on Thursday, December 11th. BMO Capital Markets upped their price objective on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Monday. UBS Group raised Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. Finally, Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $55.56.

Terns Pharmaceuticals Stock Up 0.2%

The business has a 50-day simple moving average of $23.08 and a two-hundred day simple moving average of $11.92. The stock has a market capitalization of $3.59 billion, a P/E ratio of -38.74 and a beta of -0.24.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. On average, sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 24,520 shares of Terns Pharmaceuticals stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total value of $441,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Terns Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Terns Pharmaceuticals by 149.3% in the first quarter. Invesco Ltd. now owns 58,345 shares of the company’s stock worth $161,000 after acquiring an additional 34,945 shares during the last quarter. Nuveen LLC acquired a new position in Terns Pharmaceuticals during the 1st quarter worth $3,880,000. Wellington Management Group LLP lifted its holdings in Terns Pharmaceuticals by 44.3% during the 1st quarter. Wellington Management Group LLP now owns 321,163 shares of the company’s stock worth $886,000 after buying an additional 98,649 shares in the last quarter. EntryPoint Capital LLC boosted its position in Terns Pharmaceuticals by 21.4% in the 1st quarter. EntryPoint Capital LLC now owns 73,293 shares of the company’s stock valued at $202,000 after buying an additional 12,905 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in shares of Terns Pharmaceuticals by 399.8% in the 1st quarter. Walleye Capital LLC now owns 594,190 shares of the company’s stock valued at $1,640,000 after buying an additional 475,294 shares during the period. Institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Company Profile

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.