Infinitum Asset Management LLC Acquires Shares of 200,000 Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Infinitum Asset Management LLC acquired a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 position. Infinitum Asset Management LLC owned approximately 0.24% of Terns Pharmaceuticals as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Terns Pharmaceuticals Stock Up 1.3%

NASDAQ TERN traded up $0.04 during trading hours on Thursday, hitting $3.10. 515,842 shares of the company were exchanged, compared to its average volume of 1,526,242. The company has a 50 day moving average of $2.80 and a two-hundred day moving average of $4.25. The firm has a market cap of $270.74 million, a price-to-earnings ratio of -2.63 and a beta of -0.16. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. On average, equities research 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.