Terns Pharmaceuticals, Inc. (NASDAQ:TERN) is Soleus Capital Management L.P.'s 10th Largest Position

Soleus Capital Management L.P. raised its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 30.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,142,500 shares of the company's stock after purchasing an additional 1,918,956 shares during the period. Terns Pharmaceuticals accounts for 2.8% of Soleus Capital Management L.P.'s portfolio, making the stock its 10th largest position. Soleus Capital Management L.P. owned about 9.59% of Terns Pharmaceuticals worth $45,109,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC increased its position in shares of Terns Pharmaceuticals by 44.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company's stock worth $26,323,000 after acquiring an additional 1,461,680 shares in the last quarter. Vanguard Group Inc. boosted its position in Terns Pharmaceuticals by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock worth $21,437,000 after purchasing an additional 512,768 shares during the period. Nuveen Asset Management LLC boosted its position in Terns Pharmaceuticals by 30.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company's stock worth $14,592,000 after purchasing an additional 617,009 shares during the period. Candriam S.C.A. acquired a new stake in Terns Pharmaceuticals in the 4th quarter valued at $11,933,000. Finally, Acorn Capital Advisors LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at about $10,921,000. Hedge funds and other institutional investors own 98.26% of the company's stock.

Analysts Set New Price Targets

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

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN opened at $2.88 on Monday. Terns Pharmaceuticals, Inc. has a 1 year low of $1.87 and a 1 year high of $11.40. The stock's 50-day simple moving average is $2.84 and its 200-day simple moving average is $4.44. The firm has a market cap of $251.53 million, a price-to-earnings ratio of -2.44 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. As a group, research analysts predict 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.

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