Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Holdings Lowered by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 42.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,392 shares of the company’s stock after selling 27,071 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Terns Pharmaceuticals were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Terns Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after purchasing an additional 1,994 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after buying an additional 2,751 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Terns Pharmaceuticals by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after buying an additional 5,049 shares during the period. Creative Planning lifted its stake in Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after acquiring an additional 5,409 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Terns Pharmaceuticals during the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Down 2.6 %

TERN stock opened at $6.80 on Wednesday. The firm has a 50 day moving average of $6.78 and a two-hundred day moving average of $7.55. Terns Pharmaceuticals, Inc. has a 12 month low of $4.32 and a 12 month high of $11.40. The company has a market capitalization of $577.59 million, a price-to-earnings ratio of -5.76 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. On average, research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Insider Activity

In other news, CEO Amy L. Burroughs acquired 15,450 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average cost of $7.15 per share, with a total value of $110,467.50. Following the acquisition, the chief executive officer now owns 19,099 shares in the company, valued at approximately $136,557.85. This represents a 423.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TERN has been the topic of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. HC Wainwright reiterated a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Oppenheimer lifted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets restated an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.30.

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.