nVerses Capital LLC Invests $48,000 in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

nVerses Capital LLC purchased a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 5,700 shares of the company’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TERN. Point72 Asset Management L.P. lifted its stake in shares of Terns Pharmaceuticals by 21.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company’s stock worth $18,321,000 after acquiring an additional 469,176 shares during the period. Vanguard Group Inc. lifted its position in Terns Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after purchasing an additional 11,535 shares during the period. Janus Henderson Group PLC boosted its holdings in Terns Pharmaceuticals by 40.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after purchasing an additional 578,500 shares in the last quarter. Russell Investments Group Ltd. increased its position in Terns Pharmaceuticals by 127.9% during the 1st quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after purchasing an additional 355,224 shares during the period. Finally, Affinity Asset Advisors LLC increased its position in Terns Pharmaceuticals by 581.8% during the 1st quarter. Affinity Asset Advisors LLC now owns 450,000 shares of the company’s stock worth $2,952,000 after purchasing an additional 384,000 shares during the period. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TERN has been the subject of several recent analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. JMP Securities raised their target price on Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.90.

Terns Pharmaceuticals Trading Up 3.6 %

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

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data 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. Sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jill M. Quigley sold 6,143 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $7.68, for a total value of $47,178.24. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jill M. Quigley sold 6,143 shares of the company’s 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 sale, the director now owns 23,857 shares of the company’s stock, valued at approximately $183,221.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 cost of $10.50 per share, with a total value of $4,999,995.00. Following the transaction, the director now directly owns 476,190 shares of the company’s stock, valued at $4,999,995. The disclosure for this purchase can be found here. Insiders sold a total of 33,378 shares of company stock worth $329,528 over the last 90 days. 15.10% of the stock is currently owned by corporate insiders.

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.