SG Americas Securities LLC Buys Shares of 23,810 Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

SG Americas Securities LLC bought a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,810 shares of the company’s stock, valued at approximately $199,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Simplicity Wealth LLC acquired a new position in shares of Terns Pharmaceuticals during the second quarter worth approximately $72,000. Walleye Trading LLC acquired a new position in shares of Terns Pharmaceuticals during the first quarter worth approximately $98,000. Kennedy Capital Management LLC acquired a new position in shares of Terns Pharmaceuticals during the first quarter worth approximately $101,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 buying an additional 2,261 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Terns Pharmaceuticals by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after buying an additional 5,049 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN opened at $7.50 on Wednesday. Terns Pharmaceuticals, Inc. has a 12 month low of $3.26 and a 12 month high of $11.40. The stock has a market cap of $485.08 million, a price-to-earnings ratio of -5.95 and a beta of -0.36. The stock’s 50 day moving average price is $8.26 and its 200 day moving average price is $7.23.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.04. On average, sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, Director Hongbo Lu purchased 476,190 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were bought at an average price 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 approximately $4,999,995. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Hongbo Lu purchased 476,190 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were bought at an average price 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 approximately $4,999,995. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jill M. Quigley sold 17,235 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $10.00, for a total transaction of $172,350.00. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $150,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,378 shares of company stock valued at $329,528. Corporate insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TERN. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price 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.