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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Thrive Wealth Management LLC purchased a new stake in Terns Pharmaceuticals during the 1st quarter valued at about $29,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Terns Pharmaceuticals in the 4th quarter valued at $73,000. Townsquare Capital LLC acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter worth $76,000. Oxford Asset Management LLP purchased a new position in shares of Terns Pharmaceuticals during the fourth quarter worth $86,000. Finally, Savant Capital LLC acquired a new position in Terns Pharmaceuticals during the fourth quarter valued at $89,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Stock Up 2.6%

Shares of Terns Pharmaceuticals stock traded up $0.10 during mid-day trading on Wednesday, reaching $4.00. 749,211 shares of the stock traded hands, compared to its average volume of 1,497,735. The stock has a market capitalization of $349.36 million, a PE ratio of -3.67 and a beta of -0.18. The business has a 50-day moving average of $3.09 and a 200 day moving average of $3.99. Terns Pharmaceuticals, Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. On average, equities research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TERN. JMP Securities reiterated a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. BMO Capital Markets lowered their price objective 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. Finally, William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.

Insider Transactions at Terns Pharmaceuticals

In other news, CFO Andrew Gengos acquired 10,000 shares of the business's 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 acquisition, the chief financial officer now owns 10,000 shares of the company's stock, valued at $37,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company's stock.

Terns Pharmaceuticals Company 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.