The stock of Terns Pharmaceuticals Inc. (NASDAQ:TERN) increased by $0.35 on Friday to finish at $6.71, up 5.50 percent. The last five days have seen an average of 1,043,280 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$3.47. The average number of shares traded over the last 20 days was 718,935, while the average volume over the last 50 days totaled 970,770.
TERN stock dropped -17.97% since last month. On 08/10/23, the company’s shares reached a one-month low of $5.57. The stock touched a high of $14.04 on 04/20/23, after rallying from a low of $2.25 in 52 weeks. The price of TERN stock has declined by -34.09% or -$3.47 this year, reaching a new high 8 times. Still, the stock price is down -52.22% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
TERN stock investors should be aware that Terns Pharmaceuticals Inc. (TERN) stock had its last reported insider trading activity 234 days ago on Dec 23. On Dec 23, Director Lu Hongbo acquired 758,620 shares at $7.25 each. This transaction resulted in the insider spending $5,499,995. On Dec 23, Vivo Opportunity, LLC added 758,620 shares at a price of US$7.25. After the transaction, the insider now owns 4,340,212 shares. Director ORBIMED ADVISORS LLC had earlier bought 137,931 shares on Dec 23 for $7.25 a share. The transaction was completed for $1,000,000.
Financial Health
For the three months ended June 29, Terns Pharmaceuticals Inc.’s quick ratio was 20.20, while its current ratio was 20.20, indicating its ability to pay off its debt. Based on annual data, it had gross profit of $62.03 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. TERN’s return on assets (ROA) during the last 12 months has been -26.90%. In the meantime, the return on equity (ROE) for the last 12 months was -28.20%.
Earnings Surprise
According to Terns Pharmaceuticals Inc.’s quarterly financial report for the quarter that ended June 29, it had $204.68 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. It was predicted that Terns Pharmaceuticals Inc.’s quarterly earnings would be -$0.25, but it ended up being -$0.34, beating the consensus by 26.50%. EBITDA was -$21.92 million for the quarter. At the end of Terns Pharmaceuticals Inc.’s most recent quarter ended June 29, its liabilities totaled 15.55 million, while its total debt was $0.88 million. Equity owned by shareholders amounts to $61.07 million.
Technical Picture
Here’s a quick look at Terns Pharmaceuticals Inc.’s (TERN) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 42.83%, suggesting the stock is Neutral, with a 97.86% historical volatility rate.
The stochastic %K and %D were 34.86% and 26.57% respectively, while the average true range (ATR) was 0.69. Based on the 14-day stochastic reading of 59.07%, the RSI (14) reading is 39.92%. On the 9-day MACD Oscillator, the stock is at -0.42, and the 14-day reading is at -0.49.
Analyst Ratings
In its analyst report released on June 22, 2023, Mizuho began covering Terns Pharmaceuticals Inc. (NASDAQ: TERN). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Terns Pharmaceuticals Inc. (TERN) an Buy rating. TERN is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 8 others recommend it as a buy.
What is TERN’s price target for the next 12 months?
The current consensus forecast for the stock is between $8.00 and $25.00, with a median target price of $17.00. In analyzing these forecasts, the average price target given by analysts for Terns Pharmaceuticals Inc. (TERN) is $16.44.
