Terns Pharmaceuticals’ (TERN) Neutral Rating Reiterated at HC Wainwright

Terns Pharmaceuticals (NASDAQ:TERN)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $5.50 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 9.34% from the company’s current price.

Several other equities research analysts have also commented on the company. UBS Group decreased their price target on Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. BMO Capital Markets lifted their price target on Terns Pharmaceuticals from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Finally, JMP Securities decreased their price objective on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.94.

Terns Pharmaceuticals Stock Performance

TERN traded down $0.07 during trading on Tuesday, reaching $5.03. The company’s stock had a trading volume of 555,715 shares, compared to its average volume of 844,279. The company has a market capitalization of $325.34 million, a price-to-earnings ratio of -3.96 and a beta of -0.63. The company’s fifty day moving average price is $6.34 and its 200-day moving average price is $5.85. Terns Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $13.51.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, hitting the consensus estimate of ($0.29). Equities analysts predict that Terns Pharmaceuticals will post -1.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.20, for a total value of $856,009.20. Following the completion of the transaction, the insider now directly owns 268,573 shares in the company, valued at $1,665,152.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Terns Pharmaceuticals by 358.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock worth $46,000 after buying an additional 5,587 shares during the last quarter. AJOVista LLC acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth about $58,000. Simplicity Solutions LLC purchased a new position in shares of Terns Pharmaceuticals in the 4th quarter worth about $68,000. Bleakley Financial Group LLC acquired a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at about $68,000. Finally, Pale Fire Capital SE purchased a new stake in shares of Terns Pharmaceuticals during the 3rd quarter worth about $76,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.