Sio Capital Management LLC Acquires New Shares in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Sio Capital Management LLC acquired a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $83,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Terns Pharmaceuticals by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after acquiring an additional 11,535 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Terns Pharmaceuticals by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after buying an additional 2,261 shares during the period. Kennedy Capital Management LLC acquired a new position in Terns Pharmaceuticals in the first quarter valued at $101,000. Janus Henderson Group PLC boosted its position in Terns Pharmaceuticals by 40.6% during the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after acquiring an additional 578,500 shares during the last quarter. Finally, Walleye Trading LLC acquired a new stake in Terns Pharmaceuticals during the 1st quarter worth about $98,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Performance

Shares of TERN stock opened at $6.34 on Friday. The firm has a fifty day simple moving average of $7.39 and a two-hundred day simple moving average of $7.49. Terns Pharmaceuticals, Inc. has a 12 month low of $3.86 and a 12 month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.05. As a group, analysts predict that Terns Pharmaceuticals, Inc. will post -1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Oppenheimer started coverage on Terns Pharmaceuticals in a research note on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price objective on the stock. JMP Securities raised their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. BMO Capital Markets reissued an “outperform” rating and set a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Finally, HC Wainwright increased their price objective on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.70.

Insider Transactions at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, Director Hongbo Lu bought 476,190 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the acquisition, the director now directly owns 476,190 shares in the company, valued at approximately $4,999,995. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jill M. Quigley sold 17,235 shares of Terns Pharmaceuticals stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the sale, the director now owns 15,000 shares in the company, valued at $150,000. This trade represents a 53.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.