Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 56.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,673 shares of the company’s stock after acquiring an additional 64,018 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.27% of Terns Pharmaceuticals worth $1,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in Terns Pharmaceuticals by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after acquiring an additional 2,261 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Terns Pharmaceuticals by 66.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock worth $78,000 after acquiring an additional 4,742 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of Terns Pharmaceuticals in the second quarter valued at approximately $72,000. Vanguard Group Inc. increased its stake in shares of Terns Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after purchasing an additional 11,535 shares during the period. Finally, Walleye Trading LLC acquired a new stake in shares of Terns Pharmaceuticals in the first quarter valued at approximately $98,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TERN shares. BMO Capital Markets restated an “outperform” rating and issued a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. JMP Securities raised their price target on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

Insider Activity at Terns Pharmaceuticals

In related news, Director Carl L. Gordon sold 50,976 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $10.00, for a total transaction of $509,760.00. Following the completion of the sale, the director now directly owns 756,258 shares in the company, valued at $7,562,580. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Carl L. Gordon sold 50,976 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $10.00, for a total value of $509,760.00. Following the sale, the director now directly owns 756,258 shares of the company’s stock, valued at $7,562,580. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $7.68, for a total value of $47,178.24. Following the completion of the transaction, the director now directly owns 23,857 shares in the company, valued at $183,221.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,354 shares of company stock worth $839,288. 15.10% of the stock is owned by corporate insiders.

Terns Pharmaceuticals Price Performance

Terns Pharmaceuticals stock opened at $10.02 on Friday. The stock has a market capitalization of $648.06 million, a PE ratio of -7.95 and a beta of -0.37. Terns Pharmaceuticals, Inc. has a 12-month low of $3.26 and a 12-month high of $11.40. The firm has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $7.03.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Monday, August 5th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. On average, analysts forecast that Terns Pharmaceuticals, Inc. will post -1.3 earnings per share for the current fiscal year.

About Terns Pharmaceuticals

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.