Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 13.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 32,110 shares of the company’s stock after selling 4,884 shares during the period. California State Teachers Retirement System’s holdings in Terns Pharmaceuticals were worth $211,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of Terns Pharmaceuticals by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock valued at $14,978,000 after purchasing an additional 159,013 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Terns Pharmaceuticals by 40.6% during the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock worth $13,131,000 after purchasing an additional 578,500 shares in the last quarter. Great Point Partners LLC grew its stake in shares of Terns Pharmaceuticals by 102.8% during the fourth quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock worth $8,502,000 after purchasing an additional 664,076 shares in the last quarter. Decheng Capital LLC purchased a new position in Terns Pharmaceuticals in the fourth quarter valued at $4,636,000. Finally, Russell Investments Group Ltd. raised its stake in Terns Pharmaceuticals by 127.9% in the first quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock valued at $4,152,000 after buying an additional 355,224 shares in the last quarter. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TERN shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday, August 6th. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a research note on Tuesday, May 14th. Finally, JMP Securities reissued a “market outperform” rating and set a $15.00 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $8.00 on Tuesday. The company has a market capitalization of $517.42 million, a P/E ratio of -6.35 and a beta of -0.37. Terns Pharmaceuticals, Inc. has a fifty-two week low of $3.26 and a fifty-two week high of $10.03. The stock has a 50-day simple moving average of $7.66 and a 200-day simple moving average of $6.76.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.04. As a group, analysts forecast that Terns Pharmaceuticals, Inc. will post -1.31 earnings per share for the current year.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 6,143 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $7.68, for a total transaction of $47,178.24. Following the transaction, the director now directly owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $7.68, for a total value of $47,178.24. Following the completion of the sale, the director now directly owns 23,857 shares of the company’s stock, valued at $183,221.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl L. Gordon sold 50,976 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $10.00, for a total transaction of $509,760.00. Following the sale, the director now owns 756,258 shares of the company’s stock, valued at approximately $7,562,580. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.

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.