Diadema Partners LP Makes New $279,000 Investment in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Diadema Partners LP acquired a new stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 50,370 shares of the company’s stock, valued at approximately $279,000. Diadema Partners LP owned approximately 0.06% of Terns Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TERN. Geode Capital Management LLC increased its stake in Terns Pharmaceuticals by 7.6% during the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock valued at $10,072,000 after acquiring an additional 85,617 shares during the period. Virtu Financial LLC boosted its stake in shares of Terns Pharmaceuticals by 110.2% during the 3rd quarter. Virtu Financial LLC now owns 62,216 shares of the company’s stock worth $519,000 after acquiring an additional 32,624 shares during the period. SG Americas Securities LLC boosted its holdings in Terns Pharmaceuticals by 40.0% in the 4th quarter. SG Americas Securities LLC now owns 33,333 shares of the company’s stock valued at $185,000 after purchasing an additional 9,523 shares during the period. Exchange Traded Concepts LLC raised its position in Terns Pharmaceuticals by 34.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 142,919 shares of the company’s stock valued at $792,000 after purchasing an additional 36,363 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 acquiring an additional 4,475 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Trading Up 12.9 %

NASDAQ:TERN opened at $2.71 on Tuesday. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The firm has a market cap of $236.58 million, a P/E ratio of -2.30 and a beta of -0.13. The stock has a 50 day moving average of $3.11 and a two-hundred day moving average of $5.01.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analyst Ratings Changes

TERN has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Monday. William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.38.

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.