nVerses Capital LLC Acquires New Stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

nVerses Capital LLC bought a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,700 shares of the company’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TERN. Creative Planning grew its stake in shares of Terns Pharmaceuticals by 27.2% in the third quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after acquiring an additional 5,409 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Terns Pharmaceuticals by 7.9% in the third quarter. Exchange Traded Concepts LLC now owns 106,556 shares of the company’s stock valued at $889,000 after purchasing an additional 7,784 shares during the period. SG Americas Securities LLC acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth $199,000. Point72 Asset Management L.P. increased its holdings in Terns Pharmaceuticals by 21.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after purchasing an additional 469,176 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Terns Pharmaceuticals by 28.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after purchasing an additional 5,049 shares in the last quarter. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Stock Performance

TERN opened at $7.50 on Wednesday. Terns Pharmaceuticals, Inc. has a one year low of $3.26 and a one year high of $11.40. The company has a market cap of $485.08 million, a P/E ratio of -5.95 and a beta of -0.36. The business’s 50-day simple moving average is $8.26 and its 200-day simple moving average is $7.23.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.04. As a group, analysts predict that Terns Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Hongbo Lu acquired 476,190 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was bought at an average price of $10.50 per share, for a total transaction of $4,999,995.00. Following the completion of the purchase, the director now directly owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Hongbo Lu acquired 476,190 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the acquisition, the director now owns 476,190 shares of the company’s stock, valued at $4,999,995. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $7.68, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,378 shares of company stock worth $329,528 in the last ninety days. 15.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JMP Securities boosted their price objective on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 10th. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $15.90.

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.