HighTower Advisors LLC Invests $468,000 in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

HighTower Advisors LLC acquired a new position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 84,430 shares of the company’s stock, valued at approximately $468,000. HighTower Advisors LLC owned about 0.10% of Terns Pharmaceuticals at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TERN. Savant Capital LLC bought a new position in Terns Pharmaceuticals during the fourth quarter worth about $89,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Terns Pharmaceuticals by 33.1% during 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 in the last quarter. Stoneridge Investment Partners LLC bought a new position in Terns Pharmaceuticals in the 4th quarter valued at $114,000. Intech Investment Management LLC bought a new position in Terns Pharmaceuticals in the third quarter valued at about $145,000. Finally, XTX Topco Ltd acquired a new position in Terns Pharmaceuticals in the third quarter valued at approximately $148,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Insider Buying and Selling

In other news, Director Jill M. Quigley sold 6,240 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.72, for a total value of $35,692.80. Following the completion of the sale, the director now owns 8,760 shares in the company, valued at $50,107.20. The trade was a 41.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total transaction of $25,586.51. Following the transaction, the insider now owns 54,269 shares in the company, valued at $309,875.99. This represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,669 shares of company stock worth $211,040 in the last ninety days. 15.10% of the stock is owned by insiders.

Terns Pharmaceuticals Trading Down 6.4 %

NASDAQ:TERN opened at $2.92 on Monday. Terns Pharmaceuticals, Inc. has a 1-year low of $2.90 and a 1-year high of $11.40. The stock has a market cap of $254.91 million, a P/E ratio of -2.47 and a beta of -0.30. The stock has a 50 day simple moving average of $3.90 and a 200 day simple moving average of $5.84.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. As a group, sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on TERN shares. William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. HC Wainwright reiterated a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, Oppenheimer upped their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Terns Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $18.38.

Terns Pharmaceuticals 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.