Voloridge Investment Management LLC Sells 98,066 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Voloridge Investment Management LLC decreased its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 62.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 59,720 shares of the company's stock after selling 98,066 shares during the quarter. Voloridge Investment Management LLC owned 0.07% of Terns Pharmaceuticals worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Rhumbline Advisers raised its position in Terns Pharmaceuticals by 16.0% in the 4th quarter. Rhumbline Advisers now owns 97,892 shares of the company's stock worth $542,000 after purchasing an additional 13,479 shares during the last quarter. LPL Financial LLC raised its position in shares of Terns Pharmaceuticals by 397.2% during the fourth quarter. LPL Financial LLC now owns 252,325 shares of the company's stock worth $1,398,000 after acquiring an additional 201,575 shares during the last quarter. Norges Bank acquired a new position in shares of Terns Pharmaceuticals during the fourth quarter valued at $4,706,000. Parkman Healthcare Partners LLC boosted its holdings in Terns Pharmaceuticals by 51.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 829,105 shares of the company's stock valued at $4,593,000 after acquiring an additional 283,354 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Terns Pharmaceuticals by 30.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company's stock valued at $14,592,000 after acquiring an additional 617,009 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

Terns Pharmaceuticals Trading Up 6.4%

Shares of NASDAQ:TERN traded up $0.21 during trading on Tuesday, hitting $3.49. 986,576 shares of the company's stock traded hands, compared to its average volume of 1,523,193. The company has a 50-day moving average price of $2.79 and a 200-day moving average price of $4.14. Terns Pharmaceuticals, Inc. has a 52 week low of $1.87 and a 52 week high of $11.40. The company has a market cap of $304.81 million, a price-to-earnings ratio of -2.96 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. On average, analysts predict 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.