Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Terns Pharmaceuticals Inc shares valued at $66,432 were sold by Quigley Jill M. on Aug 02 ’24. At $7.50 per share, Quigley Jill M. sold 8,857 shares. The insider’s holdings dropped to 15,000 shares worth approximately $0.1 million following the completion of this transaction.
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Also, Quigley Jill M. sold 6,143 shares, netting a total of over 47,148 in proceeds. Following the sale of shares at $7.68 each, the insider now holds 23,857 shares.
Before that, GORDON CARL L had sold 50,976 shares from its account. In a trade valued at $509,760, the Director traded Terns Pharmaceuticals Inc shares for $10.00 each. Upon closing the transaction, the insider’s holdings decreased to 50,976 shares, worth approximately $5.08 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 -1.47%. Over the course of the year, Terns Pharmaceuticals Inc shares have jumped approximately 3.54%. Shares of the company reached a 52-week high of $10.03 on 07/16/24 and a 52-week low of $4.32 on 04/19/24. A 50-day SMA is recorded $7.63, while a 200-day SMA reached $6.32. Nevertheless, trading volume fell to 1.2 million shares from 0.95 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 6.51, which, if violated, would cause prices to drop to 6.29. In the upper region, resistance lies at 6.98. The next price resistance is at 7.23. RSI (Relative Strength Index) is 40.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.50, which suggests the price will decrease in the coming days. Percent R is at 88.73%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
