Terns Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:TERN)

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) was the target of some unusual options trading activity on Friday. Stock traders acquired 9,767 call options on the company. This represents an increase of 501% compared to the average daily volume of 1,624 call options.

Terns Pharmaceuticals Stock Up 5.1%

Shares of NASDAQ TERN traded up $2.27 during mid-day trading on Friday, reaching $46.51. 2,100,048 shares of the company were exchanged, compared to its average volume of 2,079,581. Terns Pharmaceuticals has a 52 week low of $1.87 and a 52 week high of $48.26. The company’s 50 day moving average price is $38.63 and its 200 day moving average price is $25.83. The stock has a market capitalization of $4.83 billion, a PE ratio of -45.19 and a beta of -0.31.

Insider Buying and Selling

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs sold 71,339 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $38.10, for a total transaction of $2,718,015.90. Following the sale, the chief executive officer owned 138,976 shares of the company’s stock, valued at $5,294,985.60. The trade was a 33.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emil Kuriakose sold 1,155 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $38.57, for a total value of $44,548.35. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 155,826 shares of company stock valued at $5,882,597 over the last quarter. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC grew its position in Terns Pharmaceuticals by 136.8% during the first quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock valued at $78,000 after acquiring an additional 16,363 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Terns Pharmaceuticals in the 1st quarter worth approximately $51,000. Goldman Sachs Group Inc. boosted its stake in shares of Terns Pharmaceuticals by 21.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock valued at $1,145,000 after purchasing an additional 71,971 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Terns Pharmaceuticals by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company’s stock valued at $6,094,000 after purchasing an additional 59,145 shares during the last quarter. Finally, Candriam S.C.A. raised its position in Terns Pharmaceuticals by 9.9% in the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock worth $8,834,000 after purchasing an additional 214,266 shares during the period. 98.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TERN. Citizens Jmp boosted their price objective on shares of Terns Pharmaceuticals from $35.00 to $57.00 and gave the company a “market outperform” rating in a research note on Thursday, December 11th. Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a report on Wednesday, November 26th. Wall Street Zen upgraded shares of Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Barclays upped their price target on shares of Terns Pharmaceuticals from $36.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Finally, BMO Capital Markets lifted their price objective on Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Terns Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $58.11.

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.