Terns Pharmaceuticals Sees Unusually High Options Volume (NASDAQ:TERN)
by Danessa Lincoln · The Markets DailyTerns Pharmaceuticals, Inc. (NASDAQ:TERN – Get Free Report) saw unusually large options trading activity on Tuesday. Investors purchased 12,742 call options on the company. This represents an increase of approximately 187% compared to the average volume of 4,441 call options.
Terns Pharmaceuticals Price Performance
Shares of NASDAQ TERN traded down $0.18 during midday trading on Tuesday, reaching $52.61. 12,749,793 shares of the stock traded hands, compared to its average volume of 4,459,441. The stock has a market capitalization of $6.07 billion, a PE ratio of -51.07 and a beta of -0.37. Terns Pharmaceuticals has a one year low of $1.94 and a one year high of $53.19. The company’s 50 day moving average is $43.32 and its 200 day moving average is $31.28.
Terns Pharmaceuticals (NASDAQ:TERN – Get Free Report) last issued 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. As a group, equities analysts forecast that Terns Pharmaceuticals will post -1.19 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts have recently commented on TERN shares. BMO Capital Markets lowered shares of Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 10th. Truist Financial lowered shares of Terns Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their target price for the stock from $56.00 to $53.00 in a report on Tuesday, March 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a report on Friday, March 27th. Finally, Barclays reissued an “equal weight” rating and issued a $53.00 target price (down from $56.00) on shares of Terns Pharmaceuticals in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Terns Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $56.30.
Get Our Latest Research Report on TERN
Insider Transactions at Terns Pharmaceuticals
In other Terns Pharmaceuticals news, CEO Amy L. Burroughs sold 68,749 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 288,976 shares of the company’s stock, valued at approximately $10,712,340.32. The trade was a 19.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Emil Kuriakose sold 942 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total value of $49,690.50. Following the completion of the transaction, the insider directly owned 105,673 shares of the company’s stock, valued at approximately $5,574,250.75. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 98,857 shares of company stock valued at $3,850,896. 1.50% of the stock is owned by insiders.
Institutional Trading of Terns Pharmaceuticals
Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth $25,000. GAMMA Investing LLC increased its stake in Terns Pharmaceuticals by 762.4% in the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $35,000 after purchasing an additional 770 shares during the period. Engineers Gate Manager LP purchased a new stake in Terns Pharmaceuticals in the second quarter worth $41,000. iA Global Asset Management Inc. purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth $43,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Terns Pharmaceuticals in the second quarter worth $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.