Terns Pharmaceuticals shares rise as investors focus on recent presentation, index-addition notice, and upcoming earnings

Terns Pharmaceuticals, Inc. (TERN) is up 5.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to renewed attention on the company’s near-term milestones after a recently circulated corporate presentation and continued buy-side positioning ahead of the next earnings report. Separately, incremental demand could be building around the stock following a benchmark index reconstitution notice that includes Terns. If no single headline crossed today, the gain may also reflect momentum flows in a biotech name with multiple upcoming catalysts.

Details:

The company has a refreshed corporate presentation dated March 2026, which can act as a near-term attention catalyst when it highlights pipeline timelines, cash runway, and key milestones.

A STOXX benchmark index review document lists Terns Pharmaceuticals as an addition effective March 23, 2026, which can create mechanical buying interest as some index-linked strategies rebalance.

Recent sell-side sentiment has been supportive, including a rating change to “Strong Buy” from one firm in late February 2026.

The next earnings release is widely expected around mid-to-late March 2026 based on historical reporting cadence, keeping investors focused on cash burn and program updates.

Sources:

MarketScreener, STOXX, MarketBeat

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$TERN Insider Trading Activity

$TERN insiders have traded $TERN stock on the open market 10 times in the past 6 months. Of those trades, 0 have been purchases and 10 have been sales.

Here’s a breakdown of recent trading of $TERN stock by insiders over the last 6 months:

AMY L. BURROUGHS (Chief Executive Officer) has made 0 purchases and 6 sales selling 154,671 shares for an estimated $5,838,411.
JILL M. QUIGLEY sold 24,520 shares for an estimated $441,360
EMIL KURIAKOSE (Chief Medical Officer) has made 0 purchases and 3 sales selling 2,099 shares for an estimated $51,959.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$TERN Hedge Fund Activity

We have seen 187 institutional investors add shares of $TERN stock to their portfolio, and 67 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

SOLEUS CAPITAL MANAGEMENT, L.P. removed 7,914,390 shares (-97.4%) from their portfolio in Q4 2025, for an estimated $319,741,356
DEEP TRACK CAPITAL, LP removed 6,725,952 shares (-89.7%) from their portfolio in Q4 2025, for an estimated $271,728,460
ORBIMED ADVISORS LLC removed 5,409,671 shares (-71.5%) from their portfolio in Q4 2025, for an estimated $218,550,708
VESTAL POINT CAPITAL, LP added 4,500,000 shares (+inf%) to their portfolio in Q4 2025, for an estimated $181,800,000
COMMODORE CAPITAL LP removed 4,225,000 shares (-74.1%) from their portfolio in Q4 2025, for an estimated $170,690,000
JANUS HENDERSON GROUP PLC added 3,379,569 shares (+inf%) to their portfolio in Q4 2025, for an estimated $136,534,587
CAPITOLIS LIQUID GLOBAL MARKETS LLC added 3,045,200 shares (+inf%) to their portfolio in Q4 2025, for an estimated $123,026,080

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$TERN Analyst Ratings

Wall Street analysts have issued reports on $TERN in the last several months. We have seen 8 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citizens issued a "Market Outperform" rating on 12/11/2025
HC Wainwright & Co. issued a "Buy" rating on 12/09/2025
Mizuho issued a "Outperform" rating on 12/09/2025
Barclays issued a "Overweight" rating on 11/25/2025
Truist Securities issued a "Buy" rating on 11/19/2025
BMO Capital issued a "Outperform" rating on 11/18/2025
William Blair issued a "Outperform" rating on 11/03/2025

To track analyst ratings and price targets for $TERN, check out Quiver Quantitative's $TERN forecast page.

$TERN Price Targets

Multiple analysts have issued price targets for $TERN recently. We have seen 10 analysts offer price targets for $TERN in the last 6 months, with a median target of $55.0.

Here are some recent targets:

Silvan Tuerkcan from Citizens set a target price of $57.0 on 12/11/2025
Etzer Darout from Barclays set a target price of $56.0 on 12/09/2025
Andres Y. Maldonado from HC Wainwright & Co. set a target price of $60.0 on 12/09/2025
Evan Seigerman from BMO Capital set a target price of $54.0 on 12/09/2025
Jay Olson from Oppenheimer set a target price of $58.0 on 12/09/2025
Srikripa Devarakonda from Truist Securities set a target price of $56.0 on 12/09/2025
Graig Suvannavejh from Mizuho set a target price of $54.0 on 12/09/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.