William Blair Initiates Coverage on Terns Pharmaceuticals (NASDAQ:TERN)

Equities research analysts at William Blair started coverage on shares of Terns Pharmaceuticals (NASDAQ:TERN) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm set a “market perform” rating on the stock.

Other equities research analysts also recently issued reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Oppenheimer boosted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, HC Wainwright restated a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Stock Down 1.9 %

NASDAQ:TERN opened at $3.69 on Friday. The business’s 50-day moving average price is $4.74 and its 200 day moving average price is $6.52. Terns Pharmaceuticals has a 52-week low of $3.65 and a 52-week high of $11.40. The firm has a market cap of $313.42 million, a P/E ratio of -3.13 and a beta of -0.34.

Insider Activity

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 9,059 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.80, for a total value of $52,542.20. Following the sale, the chief financial officer now owns 74,752 shares of the company’s stock, valued at $433,561.60. The trade was a 10.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jill M. Quigley sold 8,760 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.79, for a total transaction of $50,720.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 18,210 shares of company stock valued at $124,571 and have sold 36,669 shares valued at $211,040. Insiders own 15.10% of the company’s stock.

Institutional Trading of Terns Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Candriam S.C.A. acquired a new position in Terns Pharmaceuticals in the fourth quarter worth $11,933,000. Acorn Capital Advisors LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth $10,921,000. Soleus Capital Management L.P. increased its stake in shares of Terns Pharmaceuticals by 30.8% in the 4th quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock valued at $45,109,000 after buying an additional 1,918,956 shares during the period. Schonfeld Strategic Advisors LLC raised its position in shares of Terns Pharmaceuticals by 44.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock worth $26,323,000 after acquiring an additional 1,461,680 shares during the last quarter. Finally, Bellevue Group AG acquired a new position in shares of Terns Pharmaceuticals during the third quarter valued at $8,691,000. 98.26% of the stock is currently owned by institutional investors.

Terns Pharmaceuticals Company Profile

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.