Great Point Partners LLC Sells 160,569 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Great Point Partners LLC lessened its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 12.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,149,406 shares of the company’s stock after selling 160,569 shares during the period. Terns Pharmaceuticals makes up 1.5% of Great Point Partners LLC’s portfolio, making the stock its 24th biggest position. Great Point Partners LLC owned about 1.78% of Terns Pharmaceuticals worth $7,827,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of Terns Pharmaceuticals by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after buying an additional 159,013 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Terns Pharmaceuticals by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after acquiring an additional 11,535 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Terns Pharmaceuticals by 40.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after purchasing an additional 578,500 shares in the last quarter. Decheng Capital LLC bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter worth about $4,636,000. Finally, Russell Investments Group Ltd. increased its position in shares of Terns Pharmaceuticals by 127.9% during the 1st quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after purchasing an additional 355,224 shares in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TERN has been the topic of a number of recent analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. JMP Securities increased their price target on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.90.

Terns Pharmaceuticals Trading Down 2.9 %

TERN opened at $9.73 on Tuesday. Terns Pharmaceuticals, Inc. has a 1-year low of $3.26 and a 1-year high of $11.40. The stock has a market capitalization of $629.31 million, a PE ratio of -7.72 and a beta of -0.37. The firm has a 50-day moving average price of $8.25 and a two-hundred day moving average price of $7.02.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.04. On average, research analysts predict that Terns Pharmaceuticals, Inc. will post -1.3 EPS for the current year.

Insider Transactions at Terns Pharmaceuticals

In other news, Director Hongbo Lu acquired 476,190 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the transaction, the director now directly owns 476,190 shares in the company, valued at $4,999,995. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Terns Pharmaceuticals news, Director Carl L. Gordon sold 50,976 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $10.00, for a total transaction of $509,760.00. Following the completion of the sale, the director now owns 756,258 shares in the company, valued at approximately $7,562,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hongbo Lu purchased 476,190 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the transaction, the director now directly owns 476,190 shares in the company, valued at $4,999,995. The disclosure for this purchase can be found here. Insiders sold a total of 84,354 shares of company stock worth $839,288 over the last 90 days. 15.10% of the stock is owned by insiders.

Terns Pharmaceuticals 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.