Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 93.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,964 shares of the company's stock after selling 174,614 shares during the period. Cubist Systematic Strategies LLC's holdings in Terns Pharmaceuticals were worth $66,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers grew its stake in Terns Pharmaceuticals by 16.0% in the 4th quarter. Rhumbline Advisers now owns 97,892 shares of the company's stock worth $542,000 after acquiring an additional 13,479 shares during the period. LPL Financial LLC grew its stake in Terns Pharmaceuticals by 397.2% in the 4th quarter. LPL Financial LLC now owns 252,325 shares of the company's stock worth $1,398,000 after acquiring an additional 201,575 shares during the period. Norges Bank purchased a new stake in Terns Pharmaceuticals in the 4th quarter worth approximately $4,706,000. Vanguard Group Inc. grew its stake in Terns Pharmaceuticals by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock worth $21,437,000 after acquiring an additional 512,768 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Terns Pharmaceuticals in the 4th quarter worth approximately $1,242,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Trading Up 2.7%

NASDAQ:TERN traded up $0.08 on Friday, reaching $3.02. The stock had a trading volume of 544,462 shares, compared to its average volume of 1,535,603. The company has a 50-day moving average of $2.81 and a 200 day moving average of $4.30. The stock has a market cap of $263.76 million, a P/E ratio of -2.56 and a beta of -0.16. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.03. On average, equities analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TERN shares. JMP Securities reissued a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Finally, BMO Capital Markets cut their price objective on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.63.

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.