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

Boxer Capital Management LLC purchased a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 752,000 shares of the company's stock, valued at approximately $4,166,000. Boxer Capital Management LLC owned about 0.89% of Terns Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TERN. Schonfeld Strategic Advisors LLC grew its position in shares of Terns Pharmaceuticals by 44.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company's stock worth $26,323,000 after buying an additional 1,461,680 shares during the period. Northern Trust Corp grew its holdings in Terns Pharmaceuticals by 27.4% during the 4th quarter. Northern Trust Corp now owns 591,171 shares of the company's stock worth $3,275,000 after acquiring an additional 127,296 shares during the period. Oxford Asset Management LLP bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $86,000. Nebula Research & Development LLC lifted its stake in shares of Terns Pharmaceuticals by 128.2% in the 4th quarter. Nebula Research & Development LLC now owns 25,849 shares of the company's stock valued at $143,000 after purchasing an additional 14,521 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Terns Pharmaceuticals by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,504,238 shares of the company's stock worth $8,335,000 after purchasing an additional 28,559 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TERN shares. JMP Securities reissued a "market outperform" rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.38.

Terns Pharmaceuticals Stock Down 5.7 %

Shares of NASDAQ:TERN traded down $0.20 during mid-day trading on Monday, reaching $3.30. 843,601 shares of the stock were exchanged, compared to its average volume of 1,535,311. The stock's 50 day simple moving average is $2.95 and its 200-day simple moving average is $4.72. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40. The company has a market cap of $288.21 million, a P/E ratio of -2.80 and a beta of -0.16.

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

About Terns Pharmaceuticals

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.