JPMorgan Chase & Co. Has $287,000 Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

JPMorgan Chase & Co. lowered its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 70.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,830 shares of the company's stock after selling 123,506 shares during the quarter. JPMorgan Chase & Co. owned 0.06% of Terns Pharmaceuticals worth $287,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Virtu Financial LLC boosted its holdings in shares of Terns Pharmaceuticals by 110.2% in the third quarter. Virtu Financial LLC now owns 62,216 shares of the company's stock valued at $519,000 after buying an additional 32,624 shares during the period. SG Americas Securities LLC lifted 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 purchasing an additional 9,523 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Terns Pharmaceuticals by 34.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 142,919 shares of the company's stock worth $792,000 after acquiring an additional 36,363 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Terns Pharmaceuticals by 33.1% during the fourth 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 during the period. Finally, E. Ohman J or Asset Management AB lifted its holdings in Terns Pharmaceuticals by 30.1% during the 4th quarter. E. Ohman J or Asset Management AB now owns 80,378 shares of the company's stock worth $445,000 after purchasing an additional 18,603 shares during the last quarter. Institutional investors own 98.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TERN shares. JMP Securities reissued a "market outperform" rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.38.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN traded down $0.02 during mid-day trading on Thursday, reaching $3.01. The stock had a trading volume of 121,060 shares, compared to its average volume of 1,338,130. The stock has a 50-day simple moving average of $2.92 and a two-hundred day simple moving average of $4.67. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The stock has a market capitalization of $262.88 million, a PE ratio of -2.55 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced 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. Equities analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current 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.