Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $2.67 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 $84000.0.
As published in their initiating research note from Oppenheimer on October 31, 2024, Terns Pharmaceuticals Inc [TERN] has been an Outperform and the price target has been revised to $82. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of June 07, 2023, Jefferies has initiated its “Buy” rating for TERN. Earlier on May 31, 2023, ROTH MKM initiated its rating. Their recommendation was “a Buy” for TERN stock.
Analyzing TERN Stock Performance
During the last five days, there has been a drop of approximately -17.40%. Over the course of the year, Terns Pharmaceuticals Inc shares have dropped approximately -13.71%. 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 $7.75, while a 200-day SMA reached $7.15. Nevertheless, trading volume fell to 1.23 million shares from 1.85 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 5.47, which, if violated, would cause prices to drop to 5.33. In the upper region, resistance lies at 5.83. The next price resistance is at 6.05. RSI (Relative Strength Index) is 29.00 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.99, which suggests the price will decrease in the coming days. Percent R is at 98.07%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
