Amy Burroughs Sells 14,583 Shares of Terns Pharmaceuticals (NASDAQ:TERN) Stock

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) CEO Amy Burroughs sold 14,583 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $46.71, for a total value of $681,171.93. Following the sale, the chief executive officer directly owned 288,976 shares of the company’s stock, valued at $13,498,068.96. The trade was a 4.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN opened at $47.78 on Thursday. The company has a market capitalization of $4.96 billion, a P/E ratio of -46.39 and a beta of -0.31. The company’s 50-day moving average is $39.21 and its 200 day moving average is $27.08. Terns Pharmaceuticals, Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $48.26.

Hedge Funds Weigh In On Terns Pharmaceuticals

Several large investors have recently modified their holdings of the business. Morgan Stanley lifted its stake in shares of Terns Pharmaceuticals by 4.7% during the 4th quarter. Morgan Stanley now owns 7,945,608 shares of the company’s stock valued at $321,003,000 after buying an additional 356,513 shares in the last quarter. Commodore Capital LP purchased a new position in Terns Pharmaceuticals in the 3rd quarter valued at approximately $42,807,000. Adage Capital Partners GP L.L.C. raised its holdings in Terns Pharmaceuticals by 40.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,550,000 shares of the company’s stock valued at $224,220,000 after acquiring an additional 1,611,000 shares during the period. Vanguard Group Inc. lifted its position in shares of Terns Pharmaceuticals by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 5,523,948 shares of the company’s stock worth $223,167,000 after acquiring an additional 964,031 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth $181,800,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TERN shares. Barclays boosted their target price on shares of Terns Pharmaceuticals from $36.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Leerink Partners began coverage on shares of Terns Pharmaceuticals in a research note on Monday, February 9th. They set an “outperform” rating and a $58.00 price target for the company. TD Cowen raised shares of Terns Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 20th. Citigroup reiterated an “outperform” rating on shares of Terns Pharmaceuticals in a research note on Wednesday, November 26th. Finally, HC Wainwright increased their price objective on Terns Pharmaceuticals from $20.00 to $60.00 and gave the company a “buy” rating in a report 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 issued a Sell rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals currently has an average 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.