Stoneridge Investment Partners LLC Invests $114,000 in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Stoneridge Investment Partners LLC purchased a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,603 shares of the company’s stock, valued at approximately $114,000.

Several other hedge funds have also recently bought and sold shares of the stock. Bellevue Group AG bought a new position in shares of Terns Pharmaceuticals during the third quarter worth approximately $8,691,000. Telemark Asset Management LLC bought a new position in Terns Pharmaceuticals during the 3rd quarter worth $2,502,000. Walleye Capital LLC bought a new position in Terns Pharmaceuticals during the 3rd quarter worth $1,550,000. Cinctive Capital Management LP acquired a new position in Terns Pharmaceuticals in the 3rd quarter valued at $1,406,000. Finally, Parkman Healthcare Partners LLC lifted its position in shares of Terns Pharmaceuticals by 39.8% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 545,751 shares of the company’s stock valued at $4,552,000 after acquiring an additional 155,481 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 8,129 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $46,497.88. Following the completion of the sale, the chief financial officer now directly owns 83,811 shares of the company’s stock, valued at approximately $479,398.92. The trade was a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amy L. Burroughs acquired 15,450 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were bought at an average cost of $7.15 per share, for a total transaction of $110,467.50. Following the transaction, the chief executive officer now directly owns 19,099 shares in the company, valued at approximately $136,557.85. This represents a 423.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 18,210 shares of company stock worth $124,571 and have sold 36,669 shares worth $211,040. 15.10% of the stock is owned by company insiders.

Terns Pharmaceuticals Trading Down 3.9 %

NASDAQ:TERN opened at $4.48 on Friday. Terns Pharmaceuticals, Inc. has a one year low of $4.16 and a one year high of $11.40. The firm’s 50 day simple moving average is $5.44 and its 200 day simple moving average is $6.87.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.05. As a group, sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TERN. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Oppenheimer boosted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.30.

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.