Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 9.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 371,892 shares of the company’s stock after purchasing an additional 31,875 shares during the period. Dimensional Fund Advisors LP owned about 0.57% of Terns Pharmaceuticals worth $2,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in Terns Pharmaceuticals by 40.6% in the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after buying an additional 578,500 shares in the last quarter. Affinity Asset Advisors LLC increased its holdings in Terns Pharmaceuticals by 581.8% in the first quarter. Affinity Asset Advisors LLC now owns 450,000 shares of the company’s stock valued at $2,952,000 after buying an additional 384,000 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in Terns Pharmaceuticals in the second quarter valued at $2,531,000. Russell Investments Group Ltd. increased its holdings in Terns Pharmaceuticals by 127.9% in the first quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock valued at $4,152,000 after buying an additional 355,224 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Terns Pharmaceuticals by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after buying an additional 64,018 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Stock Up 3.6 %

TERN stock opened at $7.67 on Friday. The stock has a market capitalization of $539.51 million, a P/E ratio of -5.81 and a beta of -0.36. The firm has a 50-day simple moving average of $8.18 and a 200-day simple moving average of $7.17. Terns Pharmaceuticals, Inc. has a 52 week low of $3.26 and a 52 week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.04. On average, analysts expect that Terns Pharmaceuticals, Inc. will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TERN. JMP Securities lifted 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. BMO Capital Markets reissued an “outperform” rating and set a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock 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 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Carl L. Gordon sold 50,976 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $10.00, for a total transaction of $509,760.00. Following the completion of the sale, the director now owns 756,258 shares of the company’s stock, valued at approximately $7,562,580. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the director now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 84,354 shares of company stock valued at $839,288. Corporate insiders own 15.10% of the company’s stock.

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.