Pictet Asset Management Holding SA Boosts Stake in Terns Pharmaceuticals, Inc. $TERN

Key Points

• Pictet Asset Management increased its position by 42.8% in Q4 to 1,577,116 shares, now owning 1.75% of Terns Pharmaceuticals worth about $63.7 million.
• Insiders have been selling: 30,108 shares (~$1.3 million) were sold over the past three months, including CEO Amy Burroughs' 14,583-share sale; corporate insiders now own 1.50% of the stock.
• Analyst consensus is "Hold" with an average target price of $55.14; ratings breakdown is one Strong Buy, three Buy, ten Hold and one Sell.

Pictet Asset Management Holding SA lifted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 42.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,577,116 shares of the company's stock after acquiring an additional 472,912 shares during the quarter. Pictet Asset Management Holding SA owned 1.75% of Terns Pharmaceuticals worth $63,746,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TERN. Cubist Systematic Strategies LLC boosted its stake in shares of Terns Pharmaceuticals by 136.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company's stock worth $78,000 after acquiring an additional 16,363 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Terns Pharmaceuticals during the 1st quarter worth about $51,000. Goldman Sachs Group Inc. boosted its stake in shares of Terns Pharmaceuticals by 21.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,021 shares of the company's stock worth $1,145,000 after acquiring an additional 71,971 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Terns Pharmaceuticals by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,633,349 shares of the company's stock worth $6,094,000 after acquiring an additional 59,145 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Terns Pharmaceuticals by 21.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 358,206 shares of the company's stock worth $1,336,000 after acquiring an additional 64,011 shares in the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 942 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total value of $49,690.50. Following the transaction, the insider directly owned 105,673 shares of the company's stock, valued at $5,574,250.75. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy L. Burroughs sold 14,583 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $46.71, for a total value of $681,171.93. Following the transaction, the chief executive officer owned 288,976 shares in the company, valued at approximately $13,498,068.96. The trade was a 4.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,108 shares of company stock worth $1,302,370 over the last three months. Corporate insiders own 1.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered shares of Terns Pharmaceuticals from a "buy" rating to a "hold" rating and set a $53.00 target price on the stock. in a research note on Thursday, March 26th. JPMorgan Chase & Co. boosted their target price on shares of Terns Pharmaceuticals from $44.00 to $44.50 and gave the stock an "overweight" rating in a research note on Tuesday, April 14th. Truist Financial downgraded shares of Terns Pharmaceuticals from a "buy" rating to a "hold" rating and reduced their price target for the stock from $56.00 to $53.00 in a research report on Tuesday, March 31st. Oppenheimer reaffirmed a "market perform" rating and issued a $58.00 price target on shares of Terns Pharmaceuticals in a research note on Monday. Finally, HC Wainwright reiterated a "neutral" rating and issued a $53.00 price objective (down from $60.00) on shares of Terns Pharmaceuticals in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $55.14.

Terns Pharmaceuticals Stock Down 0.0%

Shares of TERN opened at $52.94 on Wednesday. Terns Pharmaceuticals, Inc. has a 52-week low of $2.65 and a 52-week high of $53.19. The stock has a market cap of $6.11 billion, a PE ratio of -51.40 and a beta of -0.37. The firm's fifty day moving average is $48.39 and its two-hundred day moving average is $36.33.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its earnings results on Monday, March 30th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.06. As a group, research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.07 earnings per share for the current year.

Terns Pharmaceuticals Company Profile

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company's research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company's pipeline features several candidates in various stages of preclinical and clinical evaluation.

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