LMR Partners LLP Invests $167,000 in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

LMR Partners LLP acquired a new stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the company’s stock, valued at approximately $167,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of Terns Pharmaceuticals during the 3rd quarter worth $872,000. Entropy Technologies LP bought a new position in Terns Pharmaceuticals in the third quarter valued at about $106,000. China Universal Asset Management Co. Ltd. raised its stake in Terns Pharmaceuticals by 78.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock worth $113,000 after acquiring an additional 5,935 shares in the last quarter. E. Ohman J or Asset Management AB acquired a new stake in shares of Terns Pharmaceuticals in the 3rd quarter valued at approximately $515,000. Finally, Bleakley Financial Group LLC grew its holdings in shares of Terns Pharmaceuticals by 26.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after purchasing an additional 2,751 shares during the last quarter. 98.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TERN has been the subject of several research reports. JMP Securities increased their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 10th. HC Wainwright upped their price target on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. BMO Capital Markets reissued an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Finally, Oppenheimer started coverage on Terns Pharmaceuticals in a report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 target price for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Terns Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $27.25.

Insider Buying and Selling

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 17,235 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $10.00, for a total transaction of $172,350.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,000. This represents a 53.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Hongbo Lu purchased 476,190 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the acquisition, the director now owns 476,190 shares in the company, valued at approximately $4,999,995. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. 15.10% of the stock is owned by insiders.

Terns Pharmaceuticals Stock Down 5.2 %

Shares of Terns Pharmaceuticals stock opened at $5.60 on Thursday. The stock has a market cap of $475.66 million, a price-to-earnings ratio of -4.75 and a beta of -0.32. Terns Pharmaceuticals, Inc. has a twelve month low of $3.59 and a twelve month high of $11.40. The company’s fifty day moving average is $7.75 and its 200 day moving average is $7.49.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. As a group, equities analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.24 earnings per share for the current fiscal year.

About Terns Pharmaceuticals

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.