Exchange Traded Concepts LLC Has $912,000 Position in Terns Pharmaceuticals, Inc. $TERN

Exchange Traded Concepts LLC reduced its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 46.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,455 shares of the company’s stock after selling 106,392 shares during the quarter. Exchange Traded Concepts LLC owned about 0.14% of Terns Pharmaceuticals worth $912,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TERN. Engineers Gate Manager LP acquired a new position in Terns Pharmaceuticals in the 2nd quarter worth about $41,000. Canada Pension Plan Investment Board acquired a new position in Terns Pharmaceuticals in the second quarter valued at approximately $46,000. LeConte Wealth Management LLC bought a new position in Terns Pharmaceuticals during the second quarter worth $47,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Terns Pharmaceuticals in the 1st quarter valued at about $51,000. Finally, Velan Capital Investment Management LP increased 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 valued at $75,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Price Performance

TERN stock opened at $41.52 on Monday. Terns Pharmaceuticals, Inc. has a 1 year low of $1.87 and a 1 year high of $48.26. The company has a market cap of $3.74 billion, a P/E ratio of -40.31 and a beta of -0.26. The firm has a 50-day moving average of $26.40 and a 200 day moving average of $13.36.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.03. On average, equities research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Terns Pharmaceuticals

In related news, Director Jill M. Quigley sold 24,520 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $18.00, for a total value of $441,360.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TERN. Oppenheimer increased their target price on shares of Terns Pharmaceuticals from $28.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Citizens Jmp lifted their price objective on Terns Pharmaceuticals from $35.00 to $57.00 and gave the stock a “market outperform” rating in a report on Thursday, December 11th. Jefferies Financial Group restated a “buy” rating and set a $70.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 10th. Barclays raised their price objective on shares of Terns Pharmaceuticals from $36.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Finally, William Blair upgraded Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.56.

Terns Pharmaceuticals Profile

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.