SG Americas Securities LLC Purchases 380,489 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

SG Americas Securities LLC boosted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 1,141.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,822 shares of the company’s stock after purchasing an additional 380,489 shares during the period. SG Americas Securities LLC owned about 0.47% of Terns Pharmaceuticals worth $1,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TERN. Thrive Wealth Management LLC purchased a new position in shares of Terns Pharmaceuticals during the first quarter valued at approximately $29,000. Landscape Capital Management L.L.C. bought a new position in Terns Pharmaceuticals in the 4th quarter valued at $73,000. Townsquare Capital LLC purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth $76,000. Oxford Asset Management LLP purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth $86,000. Finally, Savant Capital LLC bought a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth $89,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Andrew Gengos bought 10,000 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $3.73 per share, with a total value of $37,300.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at $37,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $3.90 on Wednesday. The stock has a market cap of $340.63 million, a PE ratio of -3.58 and a beta of -0.18. The stock has a 50-day moving average of $3.09 and a two-hundred day moving average of $3.99. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. As a group, sell-side analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TERN. BMO Capital Markets decreased their price objective on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. Finally, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.63.

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.