Ikarian Capital LLC Sells 76,983 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Ikarian Capital LLC cut its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 46.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,497 shares of the company’s stock after selling 76,983 shares during the period. Ikarian Capital LLC owned 0.14% of Terns Pharmaceuticals worth $581,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TERN. China Universal Asset Management Co. Ltd. boosted its holdings in Terns Pharmaceuticals by 358.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company’s stock valued at $46,000 after acquiring an additional 5,587 shares during the last quarter. AJOVista LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $58,000. Simplicity Solutions LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $68,000. Bleakley Financial Group LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $68,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Terns Pharmaceuticals during the 1st quarter worth approximately $101,000. 98.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TERN has been the topic of a number of research analyst reports. HC Wainwright restated a “neutral” rating and set a $5.50 price target on shares of Terns Pharmaceuticals in a report on Tuesday, May 14th. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Insider Activity at Terns Pharmaceuticals

In related news, Director Carl L. Gordon sold 50,976 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $10.00, for a total value of $509,760.00. Following the completion of the sale, the director now directly owns 756,258 shares of the company’s stock, valued at approximately $7,562,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 15.10% of the stock is currently owned by insiders.

Terns Pharmaceuticals Trading Up 0.3 %

Shares of TERN traded up $0.02 during trading hours on Thursday, reaching $7.77. The stock had a trading volume of 783,525 shares, compared to its average volume of 1,001,293. Terns Pharmaceuticals, Inc. has a 12 month low of $3.26 and a 12 month high of $10.03. The firm has a 50-day simple moving average of $7.55 and a 200 day simple moving average of $6.61. The company has a market capitalization of $502.56 million, a price-to-earnings ratio of -6.17 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Monday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. On average, equities analysts forecast that Terns Pharmaceuticals, Inc. will post -1.41 EPS for the current 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.