Wellington Management Group LLP Sells 2,111 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Wellington Management Group LLP cut its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 222,065 shares of the company’s stock after selling 2,111 shares during the quarter. Wellington Management Group LLP owned about 0.26% of Terns Pharmaceuticals worth $1,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TERN. Bank of New York Mellon Corp boosted its holdings in shares of Terns Pharmaceuticals by 56.8% during the 2nd 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. Telemark Asset Management LLC purchased a new position in Terns Pharmaceuticals during the 3rd quarter valued at about $2,502,000. Point72 Asset Management L.P. boosted its stake in Terns Pharmaceuticals by 21.1% during the second 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Terns Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after purchasing an additional 1,994 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Terns Pharmaceuticals during the third quarter valued at approximately $872,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Terns Pharmaceuticals Price Performance

TERN stock opened at $5.76 on Thursday. The stock has a market capitalization of $489.25 million, a P/E ratio of -4.88 and a beta of -0.36. Terns Pharmaceuticals, Inc. has a 1-year low of $4.32 and a 1-year high of $11.40. The business has a fifty day moving average price of $6.74 and a 200-day moving average price of $7.54.

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

Insider Activity

In related news, CEO Amy L. Burroughs bought 15,450 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $7.15 per share, with a total value of $110,467.50. Following the transaction, the chief executive officer now owns 19,099 shares in the company, valued at approximately $136,557.85. This trade represents a 423.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 15.10% of the stock is 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.