Terns Pharmaceuticals, Inc. $TERN Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP reduced its stake in Terns Pharmaceuticals by 44.9%, holding about 0.16% of the company after selling over 113,000 shares during the first quarter.
• Insider transactions showed that CFO Andrew Gengos increased his ownership by 66.67% after purchasing 10,000 shares, while CEO Amy L. Burroughs bought 23,314 shares, raising her stake by 98.09%.
• Analysts have set a consensus rating of "Moderate Buy" for Terns Pharmaceuticals, with an average price target of $15.61, despite a recent target reduction by BMO Capital Markets from $26.00 to $15.00.

Trexquant Investment LP lowered its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 44.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,609 shares of the company's stock after selling 113,638 shares during the quarter. Trexquant Investment LP owned 0.16% of Terns Pharmaceuticals worth $385,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Thrive Wealth Management LLC acquired a new stake in shares of Terns Pharmaceuticals in the 1st quarter valued at $29,000. Vontobel Holding Ltd. acquired a new stake in shares of Terns Pharmaceuticals in the 1st quarter valued at $39,000. Velan Capital Investment Management LP acquired a new stake in shares of Terns Pharmaceuticals in the 4th quarter valued at $94,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Terns Pharmaceuticals in the 4th quarter valued at $99,000. Finally, ProShare Advisors LLC increased its stake in shares of Terns Pharmaceuticals by 58.4% in the 4th quarter. ProShare Advisors LLC now owns 23,821 shares of the company's stock valued at $132,000 after buying an additional 8,784 shares during the period. Institutional investors own 98.26% of the company's stock.

Analysts Set New Price Targets

Separately, HC Wainwright assumed coverage on Terns Pharmaceuticals in a report on Thursday, September 4th. They set a "neutral" rating and a $7.44 target price on the stock. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Terns Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $15.61.

Insiders Place Their Bets

In related news, CEO Amy L. Burroughs bought 23,314 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was acquired 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 approximately $182,211.21. This trade represents a 98.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew Gengos purchased 10,000 shares of the firm's stock in a transaction on Friday, June 27th. The stock was bought at an average price of $3.93 per share, for a total transaction of $39,300.00. Following the purchase, the chief financial officer owned 25,000 shares in the company, valued at approximately $98,250. This represents a 66.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 38,314 shares of company stock worth $149,275. 1.50% of the stock is owned by insiders.

Terns Pharmaceuticals Stock Performance

Shares of TERN traded down $0.21 during trading hours on Friday, reaching $7.23. The stock had a trading volume of 1,872,404 shares, compared to its average volume of 1,106,887. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $10.70. The stock has a market capitalization of $632.70 million, a PE ratio of -6.95 and a beta of -0.04. The company's 50-day moving average is $6.25 and its two-hundred day moving average is $4.26.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.02. Equities analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

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.