Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Bought by Graham Capital Management L.P.

Graham Capital Management L.P. lifted its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 897.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,999 shares of the company's stock after purchasing an additional 119,661 shares during the period. Graham Capital Management L.P. owned about 0.16% of Terns Pharmaceuticals worth $737,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Landscape Capital Management L.L.C. bought a new stake in Terns Pharmaceuticals during the fourth quarter worth approximately $73,000. Townsquare Capital LLC acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $76,000. Oxford Asset Management LLP acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $86,000. Savant Capital LLC bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter worth $89,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of 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 acquiring an additional 4,475 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Down 4.1%

Shares of NASDAQ:TERN opened at $2.78 on Thursday. The company's fifty day moving average is $2.86 and its two-hundred day moving average is $4.53. The company has a market cap of $242.80 million, a P/E ratio of -2.36 and a beta of -0.16. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a research report 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 report on Monday, April 21st. Finally, BMO Capital Markets reduced their price objective on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Terns Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $15.63.

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.

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