Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 1,141.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 413,822 shares of the company's stock after acquiring an additional 380,489 shares during the period. SG Americas Securities LLC owned about 0.47% of Terns Pharmaceuticals worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TERN. Savant Capital LLC acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth about $89,000. Rhumbline Advisers grew its holdings in Terns Pharmaceuticals by 16.0% during the fourth quarter. Rhumbline Advisers now owns 97,892 shares of the company's stock worth $542,000 after acquiring an additional 13,479 shares during the period. Y Intercept Hong Kong Ltd boosted its position in Terns Pharmaceuticals by 84.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 67,002 shares of the company's stock worth $371,000 after purchasing an additional 30,610 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Terns Pharmaceuticals by 15.4% during the fourth quarter. Bank of New York Mellon Corp now owns 186,308 shares of the company's stock worth $1,032,000 after purchasing an additional 24,930 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Terns Pharmaceuticals by 33.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 206,450 shares of the company's stock worth $1,144,000 after purchasing an additional 51,736 shares in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

Terns Pharmaceuticals Stock Down 2.5%

Shares of NASDAQ TERN traded down $0.10 during midday trading on Friday, hitting $3.90. The stock had a trading volume of 1,063,795 shares, compared to its average volume of 1,501,247. The company has a market capitalization of $340.63 million, a PE ratio of -3.58 and a beta of -0.18. The stock has a 50 day simple moving average of $3.20 and a 200-day simple moving average of $3.94. Terns Pharmaceuticals, Inc. has a 1 year low of $1.87 and a 1 year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.03. As a group, analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. JMP Securities reiterated a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Finally, BMO Capital Markets lowered their price target on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.63.

Insider Buying and Selling

In related news, CFO Andrew Gengos acquired 10,000 shares of Terns Pharmaceuticals stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average price of $3.73 per share, for a total transaction of $37,300.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $37,300. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Terns Pharmaceuticals Profile

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.