NEOS Investment Management LLC Has $442,000 Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

NEOS Investment Management LLC decreased its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 37.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,696 shares of the company’s stock after selling 48,609 shares during the quarter. NEOS Investment Management LLC owned about 0.09% of Terns Pharmaceuticals worth $442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of Terns Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after acquiring an additional 1,994 shares during the last quarter. Corebridge Financial Inc. grew its stake in shares of Terns Pharmaceuticals by 13.5% during the fourth 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 holdings in Terns Pharmaceuticals by 33.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock valued at $100,000 after purchasing an additional 4,475 shares during the last quarter. SG Americas Securities LLC lifted its stake in Terns Pharmaceuticals by 40.0% in the fourth quarter. SG Americas Securities LLC now owns 33,333 shares of the company’s stock valued at $185,000 after buying an additional 9,523 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Terns Pharmaceuticals by 16.0% during the fourth quarter. Rhumbline Advisers now owns 97,892 shares of the company’s stock worth $542,000 after buying an additional 13,479 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Stock Down 6.4 %

Shares of TERN stock opened at $2.92 on Monday. Terns Pharmaceuticals, Inc. has a 12-month low of $2.90 and a 12-month high of $11.40. The firm has a fifty day moving average of $3.90 and a 200-day moving average of $5.84. The company has a market capitalization of $254.91 million, a price-to-earnings ratio of -2.47 and a beta of -0.30.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on TERN shares. William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. JMP Securities reissued a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. HC Wainwright reissued a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer raised their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Terns Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $18.38.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 9,059 shares of Terns Pharmaceuticals stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.80, for a total value of $52,542.20. Following the sale, the chief financial officer now directly owns 74,752 shares in the company, valued at approximately $433,561.60. The trade was a 10.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emil Kuriakose sold 4,481 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the sale, the insider now directly owns 54,269 shares in the company, valued at $309,875.99. This trade represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,669 shares of company stock valued at $211,040. 15.10% of the stock is owned by 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.