Walleye Capital LLC Takes $1.55 Million Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Walleye Capital LLC acquired a new stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 185,795 shares of the company’s stock, valued at approximately $1,550,000. Walleye Capital LLC owned about 0.26% of Terns Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TERN. nVerses Capital LLC bought a new position in shares of Terns Pharmaceuticals during the third quarter valued at about $48,000. Simplicity Wealth LLC purchased a new stake in shares of Terns Pharmaceuticals during the second quarter worth about $72,000. Walleye Trading LLC purchased a new stake in shares of Terns Pharmaceuticals during the first quarter worth about $98,000. Entropy Technologies LP purchased a new stake in shares of Terns Pharmaceuticals during the third quarter worth about $106,000. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after purchasing an additional 2,751 shares during the period. 98.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TERN shares. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. HC Wainwright reiterated a “neutral” rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday. Finally, Oppenheimer raised their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $18.30.

Terns Pharmaceuticals Price Performance

Shares of TERN opened at $7.08 on Thursday. Terns Pharmaceuticals, Inc. has a one year low of $4.32 and a one year high of $11.40. The company has a 50-day simple moving average of $7.06 and a two-hundred day simple moving average of $7.51. The firm has a market capitalization of $601.38 million, a PE ratio of -6.00 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. Analysts expect that Terns Pharmaceuticals, Inc. will post -1.22 EPS for the current fiscal year.

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.00, for a total transaction of $172,350.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,000. This trade represents a 53.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hongbo Lu bought 476,190 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the purchase, the director now directly owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals 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.