Entropy Technologies LP Makes New Investment in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Entropy Technologies LP bought a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,700 shares of the company’s stock, valued at approximately $106,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in Terns Pharmaceuticals by 40.6% in 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. Bank of New York Mellon Corp lifted its position in Terns Pharmaceuticals by 56.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after purchasing an additional 64,018 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Terns Pharmaceuticals by 127.9% in the 1st quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock valued at $4,152,000 after purchasing an additional 355,224 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Terns Pharmaceuticals by 21.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after buying an additional 469,176 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Terns Pharmaceuticals by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after buying an additional 11,535 shares during the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

Terns Pharmaceuticals Trading Down 5.8 %

Shares of Terns Pharmaceuticals stock opened at $6.17 on Monday. Terns Pharmaceuticals, Inc. has a 12 month low of $3.59 and a 12 month high of $11.40. The company has a market capitalization of $524.08 million, a PE ratio of -5.23 and a beta of -0.32. The stock’s fifty day simple moving average is $8.03 and its 200 day simple moving average is $7.50.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. Analysts predict that Terns Pharmaceuticals, Inc. will post -1.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. HC Wainwright raised their price objective on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Oppenheimer assumed coverage on Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price target on the stock. JMP Securities upped 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 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, Director Jill M. Quigley sold 17,235 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $10.00, for a total transaction of $172,350.00. Following the sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hongbo Lu acquired 476,190 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the transaction, the director now directly owns 476,190 shares in the company, valued at $4,999,995. This represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 15.10% of the company’s stock.

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.