Jump Financial LLC Sells 48,501 Shares of Terns Pharmaceuticals, Inc. $TERN

Key Points

• Jump Financial LLC significantly cut its stake in Terns Pharmaceuticals by 77.7%, now owning only 13,900 shares after selling 48,501 shares during the first quarter.
• Analysts have mixed ratings on Terns Pharmaceuticals, with BMO Capital Markets reducing their price target from $26 to $15, while the current consensus rating is a Moderate Buy with an average target of $15.61.
• Insider trading activity included CEO Amy L. Burroughs purchasing 23,314 shares at an average price of $3.87 per share, indicating confidence in the company's future.

Jump Financial LLC decreased its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 77.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,900 shares of the company's stock after selling 48,501 shares during the period. Jump Financial LLC's holdings in Terns Pharmaceuticals were worth $38,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. bought a new stake in Terns Pharmaceuticals in the first quarter valued at $39,000. Parkman Healthcare Partners LLC boosted its holdings in Terns Pharmaceuticals by 51.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 829,105 shares of the company's stock valued at $4,593,000 after acquiring an additional 283,354 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Terns Pharmaceuticals by 30.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company's stock valued at $14,592,000 after acquiring an additional 617,009 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Terns Pharmaceuticals by 26.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company's stock valued at $220,000 after acquiring an additional 8,261 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Terns Pharmaceuticals during the fourth quarter valued at $1,242,000. Institutional investors own 98.26% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities analysts have commented on TERN shares. BMO Capital Markets lowered their price objective 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. HC Wainwright started coverage on Terns Pharmaceuticals in a research report on Thursday, September 4th. They set a "neutral" rating and a $7.44 price objective for the company. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Terns Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $15.61.

Terns Pharmaceuticals Stock Performance

Shares of TERN traded down $0.20 during trading hours on Wednesday, hitting $7.36. The company had a trading volume of 378,985 shares, compared to its average volume of 1,160,015. The firm has a fifty day moving average price of $6.06 and a 200-day moving average price of $4.18. The stock has a market capitalization of $643.64 million, a price-to-earnings ratio of -7.10 and a beta of -0.04. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $11.00.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. Research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal 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.