Walleye Capital LLC Sells 217,631 Shares of Terns Pharmaceuticals, Inc. $TERN

Walleye Capital LLC reduced its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 36.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 376,559 shares of the company’s stock after selling 217,631 shares during the period. Walleye Capital LLC owned approximately 0.43% of Terns Pharmaceuticals worth $1,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of Terns Pharmaceuticals by 62.0% in the second quarter. Invesco Ltd. now owns 94,534 shares of the company’s stock valued at $353,000 after buying an additional 36,189 shares in the last quarter. DLD Asset Management LP acquired a new stake in shares of Terns Pharmaceuticals in the 2nd quarter worth about $138,000. XTX Topco Ltd bought a new position in Terns Pharmaceuticals in the 2nd quarter valued at about $110,000. American Century Companies Inc. lifted its position in Terns Pharmaceuticals by 14.0% in the 2nd quarter. American Century Companies Inc. now owns 129,668 shares of the company’s stock valued at $484,000 after acquiring an additional 15,911 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Terns Pharmaceuticals by 10.1% during the 2nd quarter. Rhumbline Advisers now owns 106,451 shares of the company’s stock valued at $397,000 after purchasing an additional 9,792 shares during the last quarter. Institutional investors own 98.26% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jill M. Quigley sold 24,520 shares of Terns Pharmaceuticals stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $18.00, for a total value of $441,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group raised Terns Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, December 4th. William Blair upgraded shares of Terns Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, November 3rd. BMO Capital Markets boosted their price target on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the stock an “outperform” rating in a report on Tuesday. Jefferies Financial Group upped their price objective on shares of Terns Pharmaceuticals from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Mizuho boosted their target price on Terns Pharmaceuticals from $33.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.22.

Terns Pharmaceuticals Stock Up 5.8%

Shares of TERN stock opened at $42.57 on Wednesday. The firm has a market cap of $3.83 billion, a P/E ratio of -41.33 and a beta of -0.26. The company has a 50 day moving average of $17.48 and a 200-day moving average of $9.78. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $45.18.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. As a group, equities analysts expect 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.