Vontobel Holding Ltd. Trims Holdings in Terns Pharmaceuticals, Inc. $TERN

Vontobel Holding Ltd. decreased its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 28.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,000 shares of the company’s stock after selling 4,000 shares during the quarter. Vontobel Holding Ltd.’s holdings in Terns Pharmaceuticals were worth $37,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TERN. SG Americas Securities LLC lifted its position in Terns Pharmaceuticals by 1,141.5% during the first quarter. SG Americas Securities LLC now owns 413,822 shares of the company’s stock worth $1,142,000 after buying an additional 380,489 shares in the last quarter. Invesco Ltd. lifted its position in Terns Pharmaceuticals by 149.3% during the first quarter. Invesco Ltd. now owns 58,345 shares of the company’s stock worth $161,000 after buying an additional 34,945 shares in the last quarter. Nuveen LLC purchased a new stake in Terns Pharmaceuticals in the first quarter valued at $3,880,000. Wellington Management Group LLP raised its position in Terns Pharmaceuticals by 44.3% in the first quarter. Wellington Management Group LLP now owns 321,163 shares of the company’s stock valued at $886,000 after purchasing an additional 98,649 shares during the period. Finally, EntryPoint Capital LLC raised its position in Terns Pharmaceuticals by 21.4% in the first quarter. EntryPoint Capital LLC now owns 73,293 shares of the company’s stock valued at $202,000 after purchasing an additional 12,905 shares during the period. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Trading Up 5.2%

Shares of NASDAQ TERN opened at $8.50 on Thursday. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $8.78. The stock has a fifty day simple moving average of $7.34 and a 200-day simple moving average of $4.97. The stock has a market capitalization of $743.84 million, a PE ratio of -8.17 and a beta of -0.03.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.02. On average, equities analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TERN shares. Barclays started coverage on Terns Pharmaceuticals in a research report on Wednesday, September 17th. They issued an “overweight” rating and a $15.00 target price on the stock. HC Wainwright started coverage on Terns Pharmaceuticals in a research report on Thursday, September 4th. They issued a “neutral” rating and a $7.44 target price on the stock. Truist Financial started coverage on Terns Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Terns Pharmaceuticals in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.24.

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.