EntryPoint Capital LLC Acquires New Stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

EntryPoint Capital LLC acquired a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 60,388 shares of the company’s stock, valued at approximately $335,000. EntryPoint Capital LLC owned about 0.07% of Terns Pharmaceuticals as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TERN. Charles Schwab Investment Management Inc. increased its stake in shares of Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after acquiring an additional 1,994 shares during the period. Corebridge Financial Inc. increased its position in Terns Pharmaceuticals by 13.5% during the 4th quarter. Corebridge Financial Inc. now owns 34,951 shares of the company’s stock worth $194,000 after purchasing an additional 4,169 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Terns Pharmaceuticals by 33.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after purchasing an additional 4,475 shares during the period. SG Americas Securities LLC raised its stake in shares of Terns Pharmaceuticals by 40.0% during the 4th quarter. SG Americas Securities LLC now owns 33,333 shares of the company’s stock worth $185,000 after buying an additional 9,523 shares in the last quarter. Finally, Sio Capital Management LLC purchased a new stake in shares of Terns Pharmaceuticals in the third quarter valued at approximately $83,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Mark J. Vignola sold 9,059 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.80, for a total transaction of $52,542.20. Following the sale, the chief financial officer now owns 74,752 shares of the company’s stock, valued at $433,561.60. This trade represents a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jill M. Quigley sold 6,240 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total transaction of $35,692.80. Following the completion of the transaction, the director now directly owns 8,760 shares of the company’s stock, valued at $50,107.20. The trade was a 41.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,669 shares of company stock valued at $211,040. Corporate insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. HC Wainwright reiterated a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Oppenheimer increased their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Stock Down 6.6 %

Terns Pharmaceuticals stock opened at $3.10 on Thursday. The firm’s 50-day simple moving average is $3.95 and its 200 day simple moving average is $5.97. Terns Pharmaceuticals, Inc. has a 52 week low of $3.07 and a 52 week high of $11.40. The firm has a market capitalization of $270.62 million, a PE ratio of -2.63 and a beta of -0.30.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Terns Pharmaceuticals Company Profile

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.