Sherbrooke Park Advisers LLC Takes Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Sherbrooke Park Advisers LLC acquired a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,846 shares of the company’s stock, valued at approximately $99,000.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its holdings in Terns Pharmaceuticals by 13.3% in the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company’s stock valued at $130,000 after buying an additional 2,753 shares during the period. Corebridge Financial Inc. grew its holdings in Terns Pharmaceuticals by 13.5% in the 4th quarter. Corebridge Financial Inc. now owns 34,951 shares of the company’s stock valued at $194,000 after buying an additional 4,169 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock valued at $100,000 after buying an additional 4,475 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Terns Pharmaceuticals by 26.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company’s stock valued at $220,000 after buying an additional 8,261 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Terns Pharmaceuticals by 58.4% in the fourth quarter. ProShare Advisors LLC now owns 23,821 shares of the company’s stock valued at $132,000 after acquiring an additional 8,784 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Trading Down 5.1%

Shares of TERN stock opened at $2.99 on Thursday. The company’s fifty day simple moving average is $2.82 and its 200-day simple moving average is $4.40. Terns Pharmaceuticals, Inc. has a 52 week low of $1.87 and a 52 week high of $11.40. The company has a market cap of $261.14 million, a PE ratio of -2.53 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. Equities research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TERN. BMO Capital Markets reduced their target price on Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. Finally, William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two equities research 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.63.

About Terns Pharmaceuticals

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.