DLD Asset Management LP Cuts Stake in Terns Pharmaceuticals, Inc. $TERN

DLD Asset Management LP cut its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 73.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company’s stock after selling 27,047 shares during the quarter. DLD Asset Management LP’s holdings in Terns Pharmaceuticals were worth $75,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TERN. Dynamic Technology Lab Private Ltd increased its position in Terns Pharmaceuticals by 237.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 66,576 shares of the company’s stock valued at $500,000 after purchasing an additional 46,831 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Terns Pharmaceuticals in the 3rd quarter worth approximately $87,000. Vanguard Group Inc. lifted its position in shares of Terns Pharmaceuticals by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,559,917 shares of the company’s stock worth $34,245,000 after purchasing an additional 253,751 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Terns Pharmaceuticals by 90.6% during the third quarter. JPMorgan Chase & Co. now owns 682,708 shares of the company’s stock valued at $5,127,000 after purchasing an additional 324,502 shares in the last quarter. Finally, Profund Advisors LLC bought a new position in shares of Terns Pharmaceuticals during the third quarter valued at approximately $96,000. 98.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, insider Emil Kuriakose sold 1,155 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $38.57, for a total transaction of $44,548.35. Following the transaction, the insider directly owned 50,365 shares in the company, valued at $1,942,578.05. The trade was a 2.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy L. Burroughs sold 14,583 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $39.19, for a total value of $571,507.77. Following the transaction, the chief executive officer directly owned 288,976 shares in the company, valued at $11,324,969.44. This represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 155,826 shares of company stock valued at $5,882,597. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TERN. Weiss Ratings reissued a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research note on Monday, December 29th. Citizens Jmp increased their target price on Terns Pharmaceuticals from $35.00 to $57.00 and gave the company a “market outperform” rating in a research report on Thursday, December 11th. Barclays lifted their price target on Terns Pharmaceuticals from $36.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. TD Cowen upgraded Terns Pharmaceuticals to a “strong-buy” rating in a research note on Friday, February 20th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Terns Pharmaceuticals in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $58.11.

Terns Pharmaceuticals Stock Up 2.0%

NASDAQ:TERN opened at $42.82 on Monday. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -41.57 and a beta of -0.31. Terns Pharmaceuticals, Inc. has a 52 week low of $1.87 and a 52 week high of $48.26. The firm has a 50 day moving average of $38.27 and a 200 day moving average of $25.02.

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.