104,535 Shares in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Bought by Quest Partners LLC

Quest Partners LLC acquired a new position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 104,535 shares of the company's stock, valued at approximately $872,000. Quest Partners LLC owned 0.15% of Terns Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of Terns Pharmaceuticals in the third quarter worth approximately $48,000. Simplicity Wealth LLC bought a new stake in Terns Pharmaceuticals in the second quarter worth approximately $72,000. Walleye Trading LLC bought a new stake in Terns Pharmaceuticals in the first quarter worth approximately $98,000. Kennedy Capital Management LLC bought a new stake in Terns Pharmaceuticals in the first quarter worth approximately $101,000. Finally, Entropy Technologies LP bought a new stake in Terns Pharmaceuticals in the third quarter worth approximately $106,000. 98.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright boosted their price objective on Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Oppenheimer assumed coverage on Terns Pharmaceuticals in a report on Thursday, October 31st. They set an "outperform" rating and a $82.00 price objective for the company. JMP Securities boosted their price objective on Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a "market outperform" rating in a report on Tuesday, September 10th. Finally, BMO Capital Markets restated an "outperform" rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.25.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN traded up $0.11 during midday trading on Thursday, reaching $5.71. 322,395 shares of the company traded hands, compared to its average volume of 1,283,358. The firm's fifty day moving average price is $7.75 and its two-hundred day moving average price is $7.49. Terns Pharmaceuticals, Inc. has a 12 month low of $3.59 and a 12 month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.05. Research analysts predict that Terns Pharmaceuticals, Inc. will post -1.22 EPS for the current year.

Insider Activity at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 17,235 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $10.00, for a total value of $172,350.00. Following the completion of the sale, the director now owns 15,000 shares of the company's stock, valued at approximately $150,000. This represents a 53.47 % decrease in their position. 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 that occurred on Thursday, September 12th. The stock was acquired at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the transaction, the director now owns 476,190 shares in the company, valued at $4,999,995. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.10% of the stock is owned by corporate insiders.

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.