Vanguard Group Inc. Has $14.43 Million Stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Vanguard Group Inc. lifted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,199,006 shares of the company’s stock after acquiring an additional 11,535 shares during the quarter. Vanguard Group Inc.’s holdings in Terns Pharmaceuticals were worth $14,425,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TERN. Bleakley Financial Group LLC acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $68,000. Simplicity Solutions LLC acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $68,000. Russell Investments Group Ltd. acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $1,803,000. AJOVista LLC acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $58,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $106,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Insider Transactions at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 6,143 shares of Terns Pharmaceuticals stock in a transaction dated 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 of the company’s stock, valued at approximately $183,221.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Carl L. Gordon sold 50,976 shares of Terns Pharmaceuticals stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $10.00, for a total value of $509,760.00. Following the completion of the transaction, the director now directly owns 756,258 shares of the company’s stock, valued at approximately $7,562,580. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the director now directly owns 23,857 shares of the company’s stock, valued at $183,221.76. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $19.00 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, August 6th. HC Wainwright reissued a “neutral” rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, May 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $15.00 target price on shares of Terns Pharmaceuticals in a research report on Tuesday, April 30th. One investment 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, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Terns Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ:TERN opened at $6.57 on Tuesday. Terns Pharmaceuticals, Inc. has a 12-month low of $3.26 and a 12-month high of $10.03. The business has a fifty day simple moving average of $7.64 and a 200 day simple moving average of $6.70.

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