AlphaQuest LLC Buys 90,882 Shares of Terns Pharmaceuticals, Inc. $TERN

AlphaQuest LLC raised its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 9,088,200.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,883 shares of the company’s stock after buying an additional 90,882 shares during the period. AlphaQuest LLC’s holdings in Terns Pharmaceuticals were worth $683,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TERN. Engineers Gate Manager LP acquired a new position in shares of Terns Pharmaceuticals in the 2nd quarter worth approximately $41,000. Canada Pension Plan Investment Board acquired a new stake in Terns Pharmaceuticals during the 2nd quarter valued at $46,000. Dynamic Technology Lab Private Ltd bought a new position in Terns Pharmaceuticals in the 1st quarter valued at $51,000. Velan Capital Investment Management LP grew its holdings in shares of Terns Pharmaceuticals by 17.6% during the second quarter. Velan Capital Investment Management LP now owns 20,000 shares of the company’s stock worth $75,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Terns Pharmaceuticals by 136.8% in the first quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company’s stock valued at $78,000 after buying an additional 16,363 shares in the last quarter. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Stock Up 4.6%

Shares of TERN stock opened at $38.52 on Wednesday. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $48.26. The firm has a fifty day moving average of $37.20 and a 200-day moving average of $19.59. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of -37.40 and a beta of -0.28.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. Research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Insider Activity at Terns Pharmaceuticals

In other news, insider Emil Kuriakose sold 1,155 shares of Terns Pharmaceuticals stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $38.57, for a total value of $44,548.35. Following the sale, the insider directly owned 50,365 shares in the company, valued at $1,942,578.05. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amy L. Burroughs sold 68,749 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $37.07, for a total transaction of $2,548,525.43. Following the completion of the sale, the chief executive officer owned 288,976 shares in the company, valued at $10,712,340.32. The trade was a 19.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 141,243 shares of company stock worth $5,311,090 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TERN. Citigroup reiterated an “outperform” rating on shares of Terns Pharmaceuticals in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Monday, December 29th. Barclays raised their price target on shares of Terns Pharmaceuticals from $36.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. BMO Capital Markets upped their price objective on Terns Pharmaceuticals from $35.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Finally, Mizuho increased their price objective on Terns Pharmaceuticals from $33.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.56.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.