Terns(TERN) Soars 7.95% on Earnings Beat, 200-DMA Cross

Terns(TERN) shares surged 7.95% today, marking the second consecutive day of gains, with a total increase of 22.25% over the past two days. The stock price reached its highest level since January 2025, with an intraday gain of 8.83%.

Terns Pharmaceuticals reported a quarterly earnings per share (EPS) of ($0.26), exceeding the consensus estimate of ($0.29) by $0.03. This positive earnings surprise likely contributed to the stock's upward momentum, as investors responded favorably to the better-than-expected financial performance.

Additionally, Terns Pharmaceuticals shares crossed above the 200-day moving average (DMA), a technical indicator that is often seen as a bullish signal. This development may have further encouraged investors to buy, driving the stock price higher. The combination of strong earnings and positive technical indicators has created a favorable environment for Terns Pharmaceuticals, leading to its recent gains.