Bleakley Financial Group LLC Boosts Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Bleakley Financial Group LLC raised its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 262.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,296 shares of the company’s stock after buying an additional 34,984 shares during the period. Bleakley Financial Group LLC owned about 0.06% of Terns Pharmaceuticals worth $268,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TERN. nVerses Capital LLC purchased a new stake in Terns Pharmaceuticals during the third quarter valued at about $48,000. Sio Capital Management LLC bought a new stake in shares of Terns Pharmaceuticals in the third quarter worth about $83,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Terns Pharmaceuticals by 33.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after purchasing an additional 4,475 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Terns Pharmaceuticals in the third quarter worth about $106,000. Finally, Intech Investment Management LLC bought a new stake in shares of Terns Pharmaceuticals in the third quarter worth about $145,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 8,760 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.79, for a total value of $50,720.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amy L. Burroughs purchased 15,450 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was bought at an average cost of $7.15 per share, for a total transaction of $110,467.50. Following the completion of the transaction, the chief executive officer now 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. In the last ninety days, insiders have purchased 18,210 shares of company stock valued at $124,571 and have sold 36,669 shares valued at $211,040. Insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

TERN has been the topic of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Oppenheimer raised their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, HC Wainwright reissued a “neutral” rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Terns Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock opened at $4.30 on Wednesday. The stock’s 50 day simple moving average is $5.37 and its two-hundred day simple moving average is $6.80. The stock has a market cap of $365.24 million, a price-to-earnings ratio of -3.64 and a beta of -0.34. Terns Pharmaceuticals, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.05. On average, analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

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.