Pictet Asset Management Holding SA Boosts Holdings in Terns Pharmaceuticals, Inc. $TERN

Pictet Asset Management Holding SA lifted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 42.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,577,116 shares of the company’s stock after buying an additional 472,912 shares during the period. Pictet Asset Management Holding SA’s holdings in Terns Pharmaceuticals were worth $63,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Commodore Capital LP purchased a new position in Terns Pharmaceuticals in the third quarter worth approximately $42,807,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Terns Pharmaceuticals in the 2nd quarter valued at $4,774,000. Vanguard Group Inc. lifted its stake in shares of Terns Pharmaceuticals by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 5,523,948 shares of the company’s stock valued at $223,167,000 after purchasing an additional 964,031 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Terns Pharmaceuticals by 405.3% during the 3rd quarter. Invesco Ltd. now owns 477,674 shares of the company’s stock worth $3,587,000 after purchasing an additional 383,140 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Terns Pharmaceuticals by 90.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 682,708 shares of the company’s stock worth $5,127,000 after purchasing an additional 324,502 shares during the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Trading Down 0.0%

Shares of NASDAQ:TERN opened at $52.94 on Wednesday. Terns Pharmaceuticals, Inc. has a 52 week low of $2.65 and a 52 week high of $53.19. The company’s 50 day moving average is $48.39 and its two-hundred day moving average is $36.33. The company has a market cap of $6.11 billion, a PE ratio of -51.40 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.06. As a group, equities research analysts expect that Terns Pharmaceuticals, Inc. will post -1.07 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Amy L. Burroughs sold 14,583 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $46.71, for a total transaction of $681,171.93. Following the completion of the sale, the chief executive officer owned 288,976 shares in the company, valued at $13,498,068.96. The trade was a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Emil Kuriakose sold 942 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total value of $49,690.50. Following the sale, the insider owned 105,673 shares of the company’s stock, valued at approximately $5,574,250.75. The trade was a 0.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,108 shares of company stock worth $1,302,370. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on TERN shares. JPMorgan Chase & Co. boosted their price objective on shares of Terns Pharmaceuticals from $44.00 to $44.50 and gave the company an “overweight” rating in a report on Tuesday, April 14th. HC Wainwright reiterated a “neutral” rating and set a $53.00 price target (down from $60.00) on shares of Terns Pharmaceuticals in a research report on Wednesday, March 25th. Truist Financial downgraded shares of Terns Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their price target for the company from $56.00 to $53.00 in a research note on Tuesday, March 31st. Citizens Jmp lowered shares of Terns Pharmaceuticals from a “market outperform” rating to a “hold” rating in a report on Thursday, March 26th. Finally, TD Cowen cut shares of Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.14.

Terns Pharmaceuticals Company Profile

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.