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

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) saw strong trading volume on Tuesday . 11,416,575 shares traded hands during 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TERN shares. Wall Street Zen downgraded Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Mizuho lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. William Blair lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 27th. Finally, BMO Capital Markets lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Terns Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $56.30.

Terns Pharmaceuticals Trading Up 0.1%

The business has a 50 day moving average of $44.04 and a 200-day moving average of $31.74. The stock has a market cap of $6.08 billion, a PE ratio of -51.13 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Thursday, April 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. Research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Emil Kuriakose sold 942 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total transaction of $49,690.50. Following the transaction, the insider owned 105,673 shares in the company, valued at $5,574,250.75. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amy L. Burroughs sold 68,749 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $37.07, for a total value of $2,548,525.43. Following the transaction, the chief executive officer owned 288,976 shares in the company, valued at $10,712,340.32. This represents a 19.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,857 shares of company stock worth $3,850,896 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TERN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $25,000. GAMMA Investing LLC grew its stake in Terns Pharmaceuticals by 762.4% during the 4th quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after buying an additional 770 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Terns Pharmaceuticals during the 2nd quarter worth approximately $41,000. iA Global Asset Management Inc. purchased a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $43,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Terns Pharmaceuticals during the 2nd quarter worth approximately $46,000. 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.