Boxer Capital Management LLC Purchases Shares of 752,000 Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Boxer Capital Management LLC purchased a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 752,000 shares of the company's stock, valued at approximately $4,166,000. Boxer Capital Management LLC owned approximately 0.89% of Terns Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Landscape Capital Management L.L.C. acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at $73,000. Townsquare Capital LLC acquired a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $76,000. Oxford Asset Management LLP acquired a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $86,000. Savant Capital LLC bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $89,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Terns Pharmaceuticals by 33.1% during 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. 98.26% of the stock is owned by institutional investors and hedge funds.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN traded up $0.09 during mid-day trading on Wednesday, reaching $3.10. The company had a trading volume of 150,884 shares, compared to its average volume of 1,531,955. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40. The stock's 50 day moving average is $2.93 and its 200-day moving average is $4.68. The stock has a market capitalization of $270.31 million, a PE ratio of -2.64 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. On average, sell-side analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Terns Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $18.38.

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.