Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Sold by VR Adviser LLC

VR Adviser LLC cut its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 68.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,077,090 shares of the company's stock after selling 2,332,968 shares during the period. Terns Pharmaceuticals comprises about 0.4% of VR Adviser LLC's investment portfolio, making the stock its 28th largest position. VR Adviser LLC owned 1.27% of Terns Pharmaceuticals worth $5,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Landscape Capital Management L.L.C. bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth about $73,000. Townsquare Capital LLC bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth about $76,000. Oxford Asset Management LLP bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth about $86,000. Savant Capital LLC bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth about $89,000. Finally, Velan Capital Investment Management LP bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth about $94,000. 98.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TERN. BMO Capital Markets cut their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Finally, JMP Securities reiterated a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.63.

Terns Pharmaceuticals Stock Performance

Shares of Terns Pharmaceuticals stock traded up $0.08 during trading on Friday, hitting $3.02. 544,462 shares of the company's stock were exchanged, compared to its average volume of 1,535,603. The business has a 50-day simple moving average of $2.81 and a 200-day simple moving average of $4.32. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $11.40. The stock has a market capitalization of $263.76 million, a price-to-earnings ratio of -2.56 and a beta of -0.16.

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

Terns Pharmaceuticals 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.