Trexquant Investment LP Cuts Stake in Terns Pharmaceuticals, Inc. $TERN

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 trimmed its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 44.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 139,609 shares of the company's stock after selling 113,638 shares during the quarter. Trexquant Investment LP owned about 0.16% of Terns Pharmaceuticals worth $385,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Thrive Wealth Management LLC bought a new stake in shares of Terns Pharmaceuticals during the 1st quarter valued at $29,000. Vontobel Holding Ltd. purchased a new position in Terns Pharmaceuticals in the first quarter worth about $39,000. Velan Capital Investment Management LP bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $94,000. Sherbrooke Park Advisers LLC bought a new position in Terns Pharmaceuticals in the 4th quarter worth about $99,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Terns Pharmaceuticals by 58.4% in the fourth quarter. ProShare Advisors LLC now owns 23,821 shares of the company's stock valued at $132,000 after purchasing an additional 8,784 shares during the period. Institutional investors own 98.26% of the company's stock.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Andrew Gengos bought 10,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average price of $3.93 per share, with a total value of $39,300.00. Following the completion of the acquisition, the chief financial officer directly owned 25,000 shares of the company's stock, valued at $98,250. This represents a 66.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amy L. Burroughs bought 23,314 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was acquired at an average cost of $3.87 per share, for a total transaction of $90,225.18. Following the acquisition, the chief executive officer directly owned 47,083 shares of the company's stock, valued at $182,211.21. The trade was a 98.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 48,314 shares of company stock worth $186,575 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TERN shares. HC Wainwright started coverage on Terns Pharmaceuticals in a report on Thursday, September 4th. They set a "neutral" rating and a $7.44 target price for the company. BMO Capital Markets lowered their price target on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.61.

Terns Pharmaceuticals Stock Performance

TERN opened at $7.28 on Tuesday. The business's 50 day moving average price is $5.98 and its 200 day moving average price is $4.16. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40. The stock has a market capitalization of $637.07 million, a PE ratio of -7.00 and a beta of -0.04.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. As a group, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal 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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