Squarepoint Ops LLC Sells 40,393 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Squarepoint Ops LLC lowered its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 75.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,125 shares of the company’s stock after selling 40,393 shares during the quarter. Squarepoint Ops LLC’s holdings in Terns Pharmaceuticals were worth $73,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Terns Pharmaceuticals by 44.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock worth $26,323,000 after acquiring an additional 1,461,680 shares during the last quarter. Vanguard Group Inc. raised its holdings in Terns Pharmaceuticals by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company’s stock valued at $21,437,000 after buying an additional 512,768 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Terns Pharmaceuticals by 30.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company’s stock valued at $14,592,000 after buying an additional 617,009 shares during the last quarter. Candriam S.C.A. bought a new position in Terns Pharmaceuticals in the 4th quarter valued at approximately $11,933,000. Finally, Acorn Capital Advisors LLC bought a new position in Terns Pharmaceuticals in the 4th quarter valued at approximately $10,921,000. Institutional investors own 98.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TERN. William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. BMO Capital Markets dropped 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. Finally, JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.63.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN opened at $4.06 on Wednesday. The company has a market capitalization of $354.59 million, a PE ratio of -3.44 and a beta of -0.18. The company has a 50 day simple moving average of $2.90 and a two-hundred day simple moving average of $4.06. Terns Pharmaceuticals, Inc. has a fifty-two week low of $1.87 and a fifty-two week 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 for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. Research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

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.