Exchange Traded Concepts LLC Sells 106,392 Shares of Terns Pharmaceuticals, Inc. $TERN

Exchange Traded Concepts LLC lowered its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 46.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 121,455 shares of the company’s stock after selling 106,392 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Terns Pharmaceuticals were worth $912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Candriam S.C.A. lifted its position in shares of Terns Pharmaceuticals by 9.9% during the second quarter. Candriam S.C.A. now owns 2,368,235 shares of the company’s stock worth $8,834,000 after purchasing an additional 214,266 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $6,094,000 after buying an additional 59,145 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Terns Pharmaceuticals during the 2nd quarter worth approximately $4,774,000. Franklin Resources Inc. acquired a new stake in Terns Pharmaceuticals during the 2nd quarter worth about $4,765,000. Finally, Parkman Healthcare Partners LLC lifted its holdings in shares of Terns Pharmaceuticals by 15.8% during the first quarter. Parkman Healthcare Partners LLC now owns 959,703 shares of the company’s stock worth $2,649,000 after purchasing an additional 130,598 shares during the period. 98.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 24,520 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $18.00, for a total transaction of $441,360.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TERN has been the topic of several analyst reports. Barclays increased their price target on Terns Pharmaceuticals from $36.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. William Blair upgraded Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, November 3rd. Oppenheimer increased their price objective on shares of Terns Pharmaceuticals from $28.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Citigroup reissued an “outperform” rating on shares of Terns Pharmaceuticals in a report on Wednesday, November 26th. Finally, JMP Securities set a $35.00 target price on Terns Pharmaceuticals in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $55.56.

Terns Pharmaceuticals Price Performance

NASDAQ TERN opened at $41.52 on Monday. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $48.26. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -40.31 and a beta of -0.26. The firm’s fifty day moving average price is $26.40 and its 200 day moving average price is $13.36.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. As a group, sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Terns Pharmaceuticals Profile

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.