PDT Partners LLC Sells 42,383 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

PDT Partners LLC trimmed its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 52.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,987 shares of the company’s stock after selling 42,383 shares during the quarter. PDT Partners LLC owned about 0.05% of Terns Pharmaceuticals worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of TERN. Sio Capital Management LLC bought a new stake in Terns Pharmaceuticals during the 3rd quarter valued at about $83,000. Walleye Capital LLC bought a new stake in Terns Pharmaceuticals during the 3rd quarter valued at about $1,550,000. Martingale Asset Management L P bought a new stake in Terns Pharmaceuticals during the 3rd quarter valued at about $618,000. Acuta Capital Partners LLC increased its stake in Terns Pharmaceuticals by 31.9% during the 3rd quarter. Acuta Capital Partners LLC now owns 487,000 shares of the company’s stock valued at $4,062,000 after purchasing an additional 117,720 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in Terns Pharmaceuticals by 3,114.6% during the 3rd quarter. Quantbot Technologies LP now owns 120,838 shares of the company’s stock valued at $1,008,000 after purchasing an additional 117,079 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors.

Insider Transactions at Terns Pharmaceuticals

In other news, CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the transaction, the chief financial officer now owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. The trade was a 9.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jill M. Quigley sold 17,235 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $150,000. This trade represents a 53.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Trading Up 3.4 %

TERN opened at $6.36 on Wednesday. The company has a market cap of $540.22 million, a price-to-earnings ratio of -5.39 and a beta of -0.36. The company’s 50 day moving average is $7.10 and its 200 day moving average is $7.51. Terns Pharmaceuticals, Inc. has a 12-month low of $4.32 and a 12-month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. As a group, analysts predict that Terns Pharmaceuticals, Inc. will post -1.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. BMO Capital Markets restated an “outperform” rating and set a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Oppenheimer began coverage on shares of Terns Pharmaceuticals in a research note on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price target for the company. JMP Securities lifted their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 10th. Finally, HC Wainwright lifted their price target on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.70.

Terns Pharmaceuticals 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.