ExodusPoint Capital Management LP Has $60,000 Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

ExodusPoint Capital Management LP reduced its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 99.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,816 shares of the company's stock after selling 1,637,315 shares during the period. ExodusPoint Capital Management LP's holdings in Terns Pharmaceuticals were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TERN. Savant Capital LLC bought a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth $89,000. XTX Topco Ltd acquired a new stake in shares of Terns Pharmaceuticals during the third quarter valued at about $148,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Terns Pharmaceuticals by 33.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company's stock worth $100,000 after purchasing an additional 4,475 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at approximately $114,000. Finally, Orion Portfolio Solutions LLC bought a new position in Terns Pharmaceuticals in the 4th quarter valued at approximately $123,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Terns Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $18.38.

Terns Pharmaceuticals Stock Performance

Shares of TERN traded up $0.17 during mid-day trading on Friday, reaching $2.41. 891,657 shares of the company were exchanged, compared to its average volume of 1,516,793. The business has a 50 day simple moving average of $3.15 and a two-hundred day simple moving average of $5.07. Terns Pharmaceuticals, Inc. has a 52 week low of $1.87 and a 52 week high of $11.40. The stock has a market capitalization of $209.95 million, a PE ratio of -2.04 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.06. On average, analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

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.