Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Sold by HighVista Strategies LLC

HighVista Strategies LLC trimmed its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 11.6% during the 3rd quarter, Holdings Channel reports. The fund owned 130,966 shares of the company’s stock after selling 17,234 shares during the quarter. HighVista Strategies LLC’s holdings in Terns Pharmaceuticals were worth $1,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in 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 purchasing an additional 1,994 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Terns Pharmaceuticals by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after purchasing an additional 2,261 shares in the last quarter. Bleakley Financial Group LLC boosted its position in Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after purchasing an additional 2,751 shares in the last quarter. The Manufacturers Life Insurance Company boosted 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 worth $154,000 after purchasing an additional 5,049 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Terns Pharmaceuticals by 27.2% in the third quarter. Creative Planning now owns 25,310 shares of the company’s stock valued at $211,000 after acquiring an additional 5,409 shares in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

Terns Pharmaceuticals Trading Down 1.4 %

Shares of Terns Pharmaceuticals stock opened at $6.15 on Tuesday. The business’s 50 day moving average price is $7.24 and its 200 day moving average price is $7.51. Terns Pharmaceuticals, Inc. has a one year low of $4.32 and a one year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. Analysts forecast that Terns Pharmaceuticals, Inc. will post -1.22 earnings per share for the current year.

Analysts Set New Price Targets

TERN has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating and issued a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. JMP Securities raised their target price on Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 10th. HC Wainwright raised their target price on Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Oppenheimer initiated coverage on Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.70.

Insider Buying and Selling at Terns Pharmaceuticals

In other news, Director Hongbo Lu acquired 476,190 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the acquisition, the director now owns 476,190 shares of the company’s stock, valued at $4,999,995. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now owns 91,940 shares in the company, valued at $1,011,340. This represents a 9.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

About Terns Pharmaceuticals

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.