Terns Pharmaceuticals, Inc. $TERN Shares Sold by Jump Financial LLC

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% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,900 shares of the company's stock after selling 48,501 shares during the quarter. Jump Financial LLC's holdings in Terns Pharmaceuticals were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TERN. Dimensional Fund Advisors LP raised its stake in Terns Pharmaceuticals by 107.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,302,932 shares of the company's stock valued at $7,218,000 after purchasing an additional 673,570 shares during the last quarter. Hsbc Holdings PLC raised its stake in Terns Pharmaceuticals by 216.1% in the 4th quarter. Hsbc Holdings PLC now owns 35,898 shares of the company's stock valued at $195,000 after purchasing an additional 24,542 shares during the last quarter. Northern Trust Corp raised its stake in Terns Pharmaceuticals by 27.4% in the 4th quarter. Northern Trust Corp now owns 591,171 shares of the company's stock valued at $3,275,000 after purchasing an additional 127,296 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at about $1,242,000. Finally, Bank of America Corp DE raised its stake in Terns Pharmaceuticals by 236.8% in the 4th quarter. Bank of America Corp DE now owns 197,226 shares of the company's stock valued at $1,093,000 after purchasing an additional 138,661 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

Analyst Ratings Changes

Separately, HC Wainwright initiated coverage on shares of Terns Pharmaceuticals in a research note on Thursday, September 4th. They issued a "neutral" rating and a $7.44 target price for the company. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $15.61.

Insider Buying and Selling

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

Terns Pharmaceuticals Trading Down 0.4%

TERN traded down $0.03 during midday trading on Thursday, hitting $7.44. The company's stock had a trading volume of 1,210,187 shares, compared to its average volume of 1,106,824. The firm has a market cap of $651.07 million, a P/E ratio of -7.15 and a beta of -0.04. The firm has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $4.23. 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) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. On average, equities analysts expect 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.