Russell Investments Group Ltd. Sells 116,292 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Russell Investments Group Ltd. reduced its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 15.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,395 shares of the company's stock after selling 116,292 shares during the period. Russell Investments Group Ltd. owned approximately 0.74% of Terns Pharmaceuticals worth $3,481,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new position in Terns Pharmaceuticals during the fourth quarter worth about $73,000. Savant Capital LLC bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $89,000. China Universal Asset Management Co. Ltd. grew its holdings 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 in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth approximately $114,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in Terns Pharmaceuticals in the fourth quarter valued at approximately $123,000. Institutional investors own 98.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TERN shares. JMP Securities reissued a "market outperform" rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a report on Monday. William Blair reiterated 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 issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.38.

Terns Pharmaceuticals Price Performance

NASDAQ TERN traded up $0.09 on Tuesday, reaching $2.80. 1,656,117 shares of the company's stock traded hands, compared to its average volume of 1,522,149. The stock has a market cap of $244.43 million, a PE ratio of -2.37 and a beta of -0.13. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The stock has a 50-day simple moving average of $3.09 and a 200 day simple moving average of $4.99.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. As a group, analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS 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.