EntryPoint Capital LLC Buys New Shares in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

EntryPoint Capital LLC bought a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 60,388 shares of the company’s stock, valued at approximately $335,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in Terns Pharmaceuticals by 16.0% during the fourth quarter. Rhumbline Advisers now owns 97,892 shares of the company’s stock worth $542,000 after purchasing an additional 13,479 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Terns Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after buying an additional 1,994 shares during the last quarter. Bellevue Group AG acquired a new stake in shares of Terns Pharmaceuticals during the 3rd quarter worth $8,691,000. Parkman Healthcare Partners LLC raised its position in shares of Terns Pharmaceuticals by 39.8% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 545,751 shares of the company’s stock worth $4,552,000 after buying an additional 155,481 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Terns Pharmaceuticals in the third quarter valued at $145,000. 98.26% of the stock is owned by institutional investors and hedge funds.

Terns Pharmaceuticals Trading Down 6.6 %

NASDAQ TERN opened at $3.10 on Thursday. The company’s fifty day simple moving average is $3.95 and its 200-day simple moving average is $5.97. The stock has a market cap of $270.62 million, a P/E ratio of -2.63 and a beta of -0.30. Terns Pharmaceuticals, Inc. has a 52 week low of $3.07 and a 52 week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. On average, research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling at Terns Pharmaceuticals

In other news, insider Emil Kuriakose sold 4,481 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the transaction, the insider now directly owns 54,269 shares in the company, valued at approximately $309,875.99. This represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jill M. Quigley sold 6,240 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total transaction of $35,692.80. Following the completion of the sale, the director now owns 8,760 shares of the company’s stock, valued at approximately $50,107.20. This trade represents a 41.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,669 shares of company stock worth $211,040 in the last 90 days. 15.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TERN has been the topic of several research analyst reports. William Blair reaffirmed a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Oppenheimer lifted their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. HC Wainwright reissued a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, JMP Securities restated a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $18.30.

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.