79,696 Shares in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Acquired by Tema Etfs LLC

Tema Etfs LLC bought a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 79,696 shares of the company’s stock, valued at approximately $442,000.

A number of other institutional investors have also made changes to their positions in TERN. SG Americas Securities LLC increased its holdings in shares of Terns Pharmaceuticals by 40.0% during the 4th quarter. SG Americas Securities LLC now owns 33,333 shares of the company’s stock worth $185,000 after acquiring an additional 9,523 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Terns Pharmaceuticals by 34.1% during the 4th 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 last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Terns Pharmaceuticals by 33.1% during 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. E. Ohman J or Asset Management AB increased its holdings in shares of 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 acquiring an additional 18,603 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of Terns Pharmaceuticals by 262.8% during the 4th quarter. Bleakley Financial Group LLC now owns 48,296 shares of the company’s stock worth $268,000 after acquiring an additional 34,984 shares during the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TERN has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their target price on Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. JMP Securities restated a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. Finally, William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

Terns Pharmaceuticals Price Performance

TERN opened at $2.88 on Monday. The business has a fifty day simple moving average of $2.84 and a 200 day simple moving average of $4.44. The company has a market capitalization of $251.53 million, a PE ratio of -2.44 and a beta of -0.16. Terns Pharmaceuticals, Inc. has a 1 year low of $1.87 and a 1 year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. Equities analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal 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.