Graham Capital Management L.P. Buys 93,296 Shares of Terns Pharmaceuticals, Inc. $TERN

Key Points

• Graham Capital Management L.P. increased its stake in Terns Pharmaceuticals by 70.1% during the 1st quarter, acquiring an additional 93,296 shares, bringing their total ownership to approximately 0.26% of the company worth $625,000.
• Several other institutional investors also bought shares of Terns Pharmaceuticals, with 98.26% of the stock being owned by institutional investors as of the latest data.
• Terns Pharmaceuticals currently has a consensus rating of "Moderate Buy" among analysts, with an average price target of $15.61, despite a recent downgrade by BMO Capital Markets.

Graham Capital Management L.P. raised its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 70.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,295 shares of the company's stock after acquiring an additional 93,296 shares during the quarter. Graham Capital Management L.P. owned about 0.26% of Terns Pharmaceuticals worth $625,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Thrive Wealth Management LLC acquired a new position in shares of Terns Pharmaceuticals in the 1st quarter valued at about $29,000. Vontobel Holding Ltd. bought a new stake in Terns Pharmaceuticals in the first quarter worth approximately $39,000. Velan Capital Investment Management LP acquired a new position in Terns Pharmaceuticals in the fourth quarter valued at approximately $94,000. Sherbrooke Park Advisers LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $99,000. Finally, ProShare Advisors LLC grew its position in shares of Terns Pharmaceuticals by 58.4% during the 4th quarter. ProShare Advisors LLC now owns 23,821 shares of the company's stock worth $132,000 after buying an additional 8,784 shares during the period. 98.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Andrew Gengos purchased 10,000 shares of the firm's stock in a transaction on Friday, June 27th. The stock was acquired at an average price of $3.93 per share, for a total transaction of $39,300.00. Following the purchase, the chief financial officer owned 25,000 shares of the company's stock, valued at $98,250. This trade represents a 66.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amy L. Burroughs acquired 23,314 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was acquired at an average cost of $3.87 per share, for a total transaction of $90,225.18. Following the completion of the purchase, the chief executive officer directly owned 47,083 shares of the company's stock, valued at approximately $182,211.21. This represents a 98.09% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 48,314 shares of company stock valued at $186,575. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, HC Wainwright started coverage on shares of Terns Pharmaceuticals in a research report on Thursday, September 4th. They set a "neutral" rating and a $7.44 target price on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.61.

Terns Pharmaceuticals Trading Down 0.4%

TERN stock traded down $0.03 during trading on Thursday, reaching $7.44. 1,210,187 shares of the stock were exchanged, compared to its average volume of 1,106,824. The firm's 50 day moving average is $6.19 and its 200 day moving average is $4.23. The firm has a market cap of $651.07 million, a P/E ratio of -7.15 and a beta of -0.04. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.00.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. As a group, analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Terns Pharmaceuticals 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.