Terns Pharmaceuticals (NASDAQ:TERN) Shares Down 6.3% – Time to Sell?

Terns Pharmaceuticals, Inc. (NASDAQ:TERN)’s share price traded down 6.3% during trading on Friday . The company traded as low as $35.89 and last traded at $35.3750. 1,408,740 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 2,157,905 shares. The stock had previously closed at $37.77.

Analyst Ratings Changes

TERN has been the subject of several recent research reports. Oppenheimer raised their target price on shares of Terns Pharmaceuticals from $28.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. William Blair raised Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, November 3rd. UBS Group upgraded shares of Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. HC Wainwright boosted their price objective on shares of Terns Pharmaceuticals from $20.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Finally, Truist Financial raised their target price on shares of Terns Pharmaceuticals from $35.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.56.

Terns Pharmaceuticals Price Performance

The company’s 50-day moving average is $32.10 and its 200-day moving average is $15.47. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -34.45 and a beta of -0.28.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. Sell-side analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Insider Transactions at Terns Pharmaceuticals

In other news, insider Emil Kuriakose sold 1,155 shares of Terns Pharmaceuticals stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $38.57, for a total value of $44,548.35. Following the transaction, the insider directly owned 50,365 shares of the company’s stock, valued at $1,942,578.05. The trade was a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jill M. Quigley sold 24,520 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $18.00, for a total value of $441,360.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 97,014 shares of company stock worth $3,203,924 in the last three months. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after purchasing an additional 770 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Terns Pharmaceuticals in the second quarter valued at about $41,000. Canada Pension Plan Investment Board purchased a new stake in shares of Terns Pharmaceuticals during the 2nd quarter valued at about $46,000. LeConte Wealth Management LLC acquired a new position in Terns Pharmaceuticals during the 2nd quarter worth approximately $47,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Terns Pharmaceuticals in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors 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.