Infinitum Asset Management LLC Purchases New Shares in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Infinitum Asset Management LLC acquired a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 200,000 shares of the company's stock, valued at approximately $1,108,000. Terns Pharmaceuticals comprises 0.6% of Infinitum Asset Management LLC's investment portfolio, making the stock its 17th biggest holding. Infinitum Asset Management LLC owned approximately 0.24% of Terns Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Landscape Capital Management L.L.C. acquired a new position in shares of Terns Pharmaceuticals during the fourth quarter worth approximately $73,000. Townsquare Capital LLC acquired a new stake in Terns Pharmaceuticals in the fourth quarter valued at approximately $76,000. Oxford Asset Management LLP acquired a new position in Terns Pharmaceuticals during the fourth quarter valued at approximately $86,000. Savant Capital LLC acquired a new position in shares of Terns Pharmaceuticals during the 4th quarter worth about $89,000. Finally, Velan Capital Investment Management LP bought a new position in shares of Terns Pharmaceuticals during the 4th quarter worth about $94,000. Institutional investors own 98.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. 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. Finally, William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two 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, Terns Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $15.63.

Terns Pharmaceuticals Stock Performance

NASDAQ TERN traded up $0.02 during trading hours on Friday, hitting $3.12. 730,860 shares of the company traded hands, compared to its average volume of 1,528,005. The business's 50-day moving average is $2.78 and its 200-day moving average is $4.19. The stock has a market capitalization of $272.49 million, a price-to-earnings ratio of -2.64 and a beta of -0.16. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40.

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