XTX Topco Ltd Purchases Shares of 17,696 Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

XTX Topco Ltd acquired a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,696 shares of the company’s stock, valued at approximately $148,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TERN. nVerses Capital LLC acquired a new position in Terns Pharmaceuticals during the 3rd quarter worth $48,000. Sio Capital Management LLC bought a new stake in shares of Terns Pharmaceuticals during the third quarter valued at about $83,000. Entropy Technologies LP acquired a new stake in Terns Pharmaceuticals in the third quarter worth about $106,000. Bleakley Financial Group LLC grew its position in Terns Pharmaceuticals by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock valued at $111,000 after buying an additional 2,751 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Terns Pharmaceuticals by 78.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,535 shares of the company’s stock valued at $113,000 after buying an additional 5,935 shares in the last quarter. 98.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs purchased 15,450 shares of the stock in a transaction dated Thursday, December 5th. The shares were acquired at an average price of $7.15 per share, for a total transaction of $110,467.50. Following the completion of the acquisition, the chief executive officer now owns 19,099 shares of the company’s stock, valued at $136,557.85. This represents a 423.40 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 15.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer raised their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.30.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN opened at $5.86 on Friday. The company has a market capitalization of $497.74 million, a PE ratio of -4.97 and a beta of -0.36. The stock has a fifty day moving average of $6.68 and a 200-day moving average of $7.53. Terns Pharmaceuticals, Inc. has a one year low of $4.32 and a one year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. As a group, research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

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.