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

JPMorgan Chase & Co. boosted its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 90.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 682,708 shares of the company’s stock after acquiring an additional 324,502 shares during the period. JPMorgan Chase & Co. owned about 0.76% of Terns Pharmaceuticals worth $5,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Engineers Gate Manager LP acquired a new stake in shares of Terns Pharmaceuticals in the second quarter valued at about $41,000. Canada Pension Plan Investment Board purchased a new position in Terns Pharmaceuticals in the 2nd quarter valued at about $46,000. Dynamic Technology Lab Private Ltd purchased a new position in Terns Pharmaceuticals in the 1st quarter valued at about $51,000. Velan Capital Investment Management LP boosted its holdings in Terns Pharmaceuticals by 17.6% in the 2nd quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $75,000 after buying an additional 3,000 shares during the last quarter. Finally, Polymer Capital Management US LLC acquired a new stake in Terns Pharmaceuticals in the 3rd quarter worth about $76,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Trading Up 0.1%

TERN stock opened at $52.79 on Thursday. The company has a market cap of $6.09 billion, a price-to-earnings ratio of -51.25 and a beta of -0.37. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $53.19. The firm has a 50-day moving average of $42.25 and a two-hundred day moving average of $30.16.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, April 2nd. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06. As a group, equities analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen cut Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Leerink Partners began coverage on Terns Pharmaceuticals in a research note on Monday, February 9th. They issued an “outperform” rating and a $58.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 27th. UBS Group raised Terns Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Finally, BMO Capital Markets lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.30.

Terns Pharmaceuticals Company 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.