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 $4,999,995 were purchased by Lu Hongbo on Sep 12 ’24. At $10.50 per share, Lu Hongbo acquired 476,190 shares. The insider’s holdings grew to 476,190 shares worth approximately $3.64 million following the completion of this transaction.
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Also, Vignola Mark J. sold 10,000 shares, netting a total of over 110,000 in proceeds. Following the sale of shares at $11.00 each, the insider now holds 91,940 shares.
Before that, Quigley Jill M. had sold 17,235 shares from its account. In a trade valued at $172,350, the Director traded Terns Pharmaceuticals Inc shares for $10.00 each. Upon closing the transaction, the insider’s holdings decreased to 17,235 shares, worth approximately $0.11 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 -2.92%. Over the course of the year, Terns Pharmaceuticals Inc shares have jumped approximately 17.87%. Shares of the company reached a 52-week high of $11.40 on 09/10/24 and a 52-week low of $4.32 on 04/19/24. A 50-day SMA is recorded $8.19, while a 200-day SMA reached $7.00. Nevertheless, trading volume fell to 0.7 million shares from 0.91 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 7.53, which, if violated, would cause prices to drop to 7.42. In the upper region, resistance lies at 7.80. The next price resistance is at 7.96. RSI (Relative Strength Index) is 40.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.32, which suggests the price will decrease in the coming days. Percent R is at 77.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
