Terns Pharmaceuticals (NASDAQ:TERN) Trading 5.1% Higher

Terns Pharmaceuticals, Inc. (NASDAQ:TERNGet Free Report)’s share price shot up 5.1% during trading on Tuesday . The stock traded as high as $5.42 and last traded at $5.38. 339,418 shares were traded during trading, a decline of 45% from the average session volume of 618,945 shares. The stock had previously closed at $5.12.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TERN shares. HC Wainwright reduced their price objective on shares of Terns Pharmaceuticals from $8.00 to $5.50 and set a “neutral” rating for the company in a research note on Wednesday, January 10th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Terns Pharmaceuticals in a research report on Tuesday, December 5th. Finally, Mizuho dropped their target price on shares of Terns Pharmaceuticals from $17.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 27th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $14.64.

Get Our Latest Report on Terns Pharmaceuticals

Terns Pharmaceuticals Stock Performance

The company’s 50-day moving average is $6.06 and its 200-day moving average is $5.57. The firm has a market cap of $387.42 million, a price-to-earnings ratio of -4.94 and a beta of -0.82.

Terns Pharmaceuticals (NASDAQ:TERNGet Free Report) last issued its earnings results on Tuesday, November 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.11). On average, analysts predict that Terns Pharmaceuticals, Inc. will post -1.29 EPS for the current year.

Institutional Trading of Terns Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. AJOVista LLC acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $58,000. Russell Investments Group Ltd. bought a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at $1,803,000. Simplicity Solutions LLC bought a new position in Terns Pharmaceuticals during the fourth quarter worth $68,000. Bleakley Financial Group LLC bought a new position in Terns Pharmaceuticals during the fourth quarter worth $68,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in Terns Pharmaceuticals by 358.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock worth $46,000 after purchasing an additional 5,587 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Company Profile

(Get Free Report)

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule single-agent and combination therapy candidates for the treatment of oncology, non-alcoholic steatohepatitis (NASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in clinical development for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.

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