Terns Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:TERN)

Terns Pharmaceuticals, Inc. (NASDAQ:TERN) was the target of unusually large options trading on Friday. Traders bought 9,767 call options on the stock. This represents an increase of 501% compared to the typical volume of 1,624 call options.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN opened at $46.52 on Friday. The business has a 50 day moving average of $38.76 and a 200 day moving average of $26.24. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -45.17 and a beta of -0.31. Terns Pharmaceuticals has a 1-year low of $1.87 and a 1-year high of $48.26.

Insider Activity

In other news, insider Emil Kuriakose sold 1,155 shares of Terns Pharmaceuticals stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $38.57, for a total transaction of $44,548.35. Following the completion of the sale, the insider owned 50,365 shares in the company, valued at approximately $1,942,578.05. This trade represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amy L. Burroughs sold 71,339 shares of Terns Pharmaceuticals stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $38.10, for a total value of $2,718,015.90. Following the sale, the chief executive officer owned 138,976 shares of the company’s stock, valued at approximately $5,294,985.60. This trade represents a 33.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 155,826 shares of company stock valued at $5,882,597. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC lifted its holdings in shares of Terns Pharmaceuticals by 136.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock worth $78,000 after acquiring an additional 16,363 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Terns Pharmaceuticals in the 1st quarter valued at $51,000. Goldman Sachs Group Inc. grew its holdings in shares of Terns Pharmaceuticals by 21.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock valued at $1,145,000 after purchasing an additional 71,971 shares during the last quarter. Geode Capital Management LLC raised its position in Terns Pharmaceuticals by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company’s stock worth $6,094,000 after purchasing an additional 59,145 shares during the period. Finally, Candriam S.C.A. raised its position in Terns Pharmaceuticals by 9.9% in the 2nd quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock worth $8,834,000 after purchasing an additional 214,266 shares during the period. 98.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TERN. UBS Group upgraded shares of Terns Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, December 4th. BMO Capital Markets lifted their target price on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Oppenheimer boosted their price target on shares of Terns Pharmaceuticals from $28.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a report on Wednesday, November 26th. Finally, Wall Street Zen upgraded shares of Terns Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $58.11.

Terns Pharmaceuticals Company Profile

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.