Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 17.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,119 shares of the company’s stock after purchasing an additional 9,635 shares during the period. American Century Companies Inc. owned about 0.10% of Terns Pharmaceuticals worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TERN. Rhumbline Advisers increased its stake in Terns Pharmaceuticals by 50.3% during the 2nd quarter. Rhumbline Advisers now owns 88,641 shares of the company’s stock worth $604,000 after buying an additional 29,659 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Terns Pharmaceuticals by 56.8% during the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock worth $1,203,000 after purchasing an additional 64,018 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in Terns Pharmaceuticals in the 2nd quarter valued at $2,531,000. Simplicity Wealth LLC purchased a new position in Terns Pharmaceuticals in the 2nd quarter valued at $72,000. Finally, Virtu Financial LLC acquired a new stake in Terns Pharmaceuticals during the 1st quarter worth $291,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TERN. BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. JMP Securities increased their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.90.

Insider Activity at Terns Pharmaceuticals

In related news, Director Jill M. Quigley sold 6,143 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Mark J. Vignola sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the sale, the chief financial officer now directly owns 91,940 shares in the company, valued at approximately $1,011,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jill M. Quigley sold 6,143 shares of the company’s stock in a transaction dated 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 approximately $183,221.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,354 shares of company stock worth $839,288. Insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Stock Performance

Shares of TERN stock opened at $8.20 on Friday. Terns Pharmaceuticals, Inc. has a twelve month low of $3.26 and a twelve month high of $11.40. The company’s 50-day moving average price is $8.20 and its 200-day moving average price is $7.11. The stock has a market cap of $530.35 million, a price-to-earnings ratio of -6.51 and a beta of -0.36.

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