VR Adviser LLC Sells 2,332,968 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

VR Adviser LLC decreased its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 68.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,077,090 shares of the company’s stock after selling 2,332,968 shares during the quarter. Terns Pharmaceuticals makes up 0.4% of VR Adviser LLC’s investment portfolio, making the stock its 28th biggest holding. VR Adviser LLC’s holdings in Terns Pharmaceuticals were worth $5,967,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Soleus Capital Management L.P. lifted its holdings in Terns Pharmaceuticals by 30.8% in the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company’s stock valued at $45,109,000 after buying an additional 1,918,956 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Terns Pharmaceuticals by 44.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock valued at $26,323,000 after buying an additional 1,461,680 shares during the period. Vanguard Group Inc. lifted its holdings in Terns Pharmaceuticals by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company’s stock valued at $21,437,000 after buying an additional 512,768 shares during the period. Nuveen Asset Management LLC lifted its holdings in Terns Pharmaceuticals by 30.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company’s stock valued at $14,592,000 after buying an additional 617,009 shares during the period. Finally, Candriam S.C.A. acquired a new position in Terns Pharmaceuticals in the fourth quarter valued at $11,933,000. Institutional investors own 98.26% of the company’s stock.

Analyst Ratings Changes

TERN has been the topic of several recent analyst reports. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. BMO Capital Markets dropped their target price on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.63.

Terns Pharmaceuticals Trading Up 9.4%

Shares of NASDAQ TERN opened at $3.15 on Tuesday. The firm’s 50-day moving average price is $2.83 and its 200-day moving average price is $4.41. Terns Pharmaceuticals, Inc. has a 1-year low of $1.87 and a 1-year high of $11.40. The firm has a market capitalization of $275.11 million, a P/E ratio of -2.67 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. Equities research analysts forecast 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.