Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC decreased its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 20.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,661,846 shares of the company's stock after selling 429,955 shares during the period. Driehaus Capital Management LLC owned approximately 1.96% of Terns Pharmaceuticals worth $9,207,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TERN. Landscape Capital Management L.L.C. purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $73,000. Townsquare Capital LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $76,000. Oxford Asset Management LLP purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $86,000. Savant Capital LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $89,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Terns Pharmaceuticals by 33.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company's stock valued at $100,000 after buying an additional 4,475 shares during the period. Hedge funds and other institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Trading Down 0.7%

NASDAQ:TERN traded down $0.02 during trading hours on Monday, hitting $3.02. The stock had a trading volume of 841,210 shares, compared to its average volume of 1,532,992. Terns Pharmaceuticals, Inc. has a 1-year low of $1.87 and a 1-year high of $11.40. The business has a 50 day simple moving average of $2.89 and a two-hundred day simple moving average of $4.55. The company has a market cap of $263.76 million, a PE ratio of -2.56 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. Research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TERN. William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.