HighVista Strategies LLC Has $1.09 Million Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

HighVista Strategies LLC reduced its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,966 shares of the company’s stock after selling 17,234 shares during the period. HighVista Strategies LLC owned 0.15% of Terns Pharmaceuticals worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TERN. nVerses Capital LLC bought a new stake in shares of Terns Pharmaceuticals during the 3rd quarter valued at approximately $48,000. Simplicity Wealth LLC bought a new stake in shares of Terns Pharmaceuticals in the 2nd quarter valued at $72,000. Sio Capital Management LLC bought a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at $83,000. Walleye Trading LLC bought a new stake in Terns Pharmaceuticals during the 1st quarter valued at $98,000. Finally, Entropy Technologies LP bought a new stake in Terns Pharmaceuticals during the 3rd quarter valued at $106,000. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Stock Down 1.4 %

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

Terns Pharmaceuticals (NASDAQ:TERN) last released 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, analysts expect that Terns Pharmaceuticals, Inc. will post -1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 17,235 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,000. This represents a 53.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 91,940 shares in the company, valued at $1,011,340. This represents a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.

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.