Terns Pharmaceuticals, Inc. $TERN Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 90.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 682,708 shares of the company’s stock after purchasing an additional 324,502 shares during the quarter. JPMorgan Chase & Co.’s holdings in Terns Pharmaceuticals were worth $5,127,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cubist Systematic Strategies LLC increased its holdings in shares of Terns Pharmaceuticals by 136.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock worth $78,000 after buying an additional 16,363 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Terns Pharmaceuticals in the first quarter valued at approximately $51,000. Goldman Sachs Group Inc. lifted its holdings in Terns Pharmaceuticals by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company’s stock valued at $1,145,000 after acquiring an additional 71,971 shares during the last quarter. Geode Capital Management LLC grew its position in Terns Pharmaceuticals by 3.8% in the second quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company’s stock worth $6,094,000 after acquiring an additional 59,145 shares during the period. Finally, Intech Investment Management LLC grew its position in Terns Pharmaceuticals by 15.5% in the second quarter. Intech Investment Management LLC now owns 46,121 shares of the company’s stock worth $172,000 after acquiring an additional 6,199 shares during the period. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Up 0.1%

Shares of NASDAQ TERN opened at $52.79 on Thursday. The business’s 50 day moving average is $42.25 and its two-hundred day moving average is $30.16. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $53.19. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of -51.25 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Thursday, April 2nd. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. Analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BMO Capital Markets downgraded Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Leerink Partners assumed coverage on Terns Pharmaceuticals in a report on Monday, February 9th. They set an “outperform” rating and a $58.00 price target for the company. TD Cowen downgraded Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research report on Thursday, March 26th. Jefferies Financial Group restated a “buy” rating and issued a $70.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 10th. Finally, Wall Street Zen cut shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.30.

Insider Activity

In related news, CEO Amy L. Burroughs sold 71,339 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $38.10, for a total transaction of $2,718,015.90. Following the completion of the transaction, the chief executive officer directly owned 138,976 shares in the company, valued at $5,294,985.60. This trade represents a 33.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emil Kuriakose sold 1,155 shares of Terns Pharmaceuticals stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $38.57, for a total value of $44,548.35. Following the completion of the transaction, the insider directly owned 50,365 shares of the company’s stock, valued at approximately $1,942,578.05. This represents a 2.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 170,409 shares of company stock worth $6,563,769. 1.50% of the stock is owned by corporate insiders.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.