JPMorgan Chase & Co. Sells 123,506 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

JPMorgan Chase & Co. lowered its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 70.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,830 shares of the company's stock after selling 123,506 shares during the quarter. JPMorgan Chase & Co. owned about 0.06% of Terns Pharmaceuticals worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Savant Capital LLC bought a new stake in Terns Pharmaceuticals during the fourth quarter valued at about $89,000. China Universal Asset Management Co. Ltd. lifted its holdings in Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company's stock worth $100,000 after purchasing an additional 4,475 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in Terns Pharmaceuticals in the 4th quarter worth approximately $114,000. SG Americas Securities LLC grew its holdings in Terns Pharmaceuticals by 40.0% during the 4th quarter. SG Americas Securities LLC now owns 33,333 shares of the company's stock valued at $185,000 after buying an additional 9,523 shares in the last quarter. Finally, Corebridge Financial Inc. raised its position in shares of Terns Pharmaceuticals by 13.5% during the fourth quarter. Corebridge Financial Inc. now owns 34,951 shares of the company's stock valued at $194,000 after buying an additional 4,169 shares during the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. JMP Securities restated a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $18.38.

Terns Pharmaceuticals Stock Down 8.8 %

Terns Pharmaceuticals stock traded down $0.29 during mid-day trading on Tuesday, reaching $3.01. 997,274 shares of the company's stock traded hands, compared to its average volume of 1,533,189. The stock has a 50 day moving average of $2.94 and a two-hundred day moving average of $4.69. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40. The company has a market cap of $262.88 million, a price-to-earnings ratio of -2.55 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06. As a group, sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current 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.