The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Terns Pharmaceuticals Inc shares valued at $856,009 were sold by Vivo Opportunity, LLC on Apr 03 ’24. At $6.20 per share, Vivo Opportunity, LLC sold 138,066 shares. The insider’s holdings dropped to 268,573 shares worth approximately $1.22 million following the completion of this transaction.
Also, Vivo Opportunity, LLC sold 101,480 shares, netting a total of over 674,842 in proceeds. Following the sale of shares at $6.65 each, the insider now holds 272,722 shares.
Before that, Vivo Opportunity, LLC had sold 181,117 shares from its account. In a trade valued at $1,266,008, the 10% Owner traded Terns Pharmaceuticals Inc shares for $6.99 each. Upon closing the transaction, the insider’s holdings decreased to 181,117 shares, worth approximately $1.25 million.
As published in their initiating research note from Mizuho on June 22, 2023, Terns Pharmaceuticals Inc [TERN] has been a Buy and the price target has been revised to $16. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in early June. As of May 31, 2023, ROTH MKM has initiated its “Buy” rating for TERN. Earlier on May 08, 2023, BMO Capital Markets initiated its rating. Their recommendation was “an Outperform” for TERN stock.
Analyzing TERN Stock Performance
During the last five days, there has been a drop of approximately -13.52%. Over the course of the year, Terns Pharmaceuticals Inc shares have dropped approximately -30.05%. Shares of the company reached a 52-week high of $8.68 on 03/07/24 and a 52-week low of $4.50 on 04/17/24. A 50-day SMA is recorded $6.65, while a 200-day SMA reached $6.01. Nevertheless, trading volume fell to 0.76 million shares from 0.7 million shares the previous day.
Support And Resistance Levels for Terns Pharmaceuticals Inc (TERN)
According to the 24-hour chart, there is a support level at 4.43, which, if violated, would cause prices to drop to 4.31. In the upper region, resistance lies at 4.73. The next price resistance is at 4.91. RSI (Relative Strength Index) is 30.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.82, which suggests the price will decrease in the coming days. Percent R is at 98.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
