Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 78.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,535 shares of the company’s stock after purchasing an additional 5,935 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Terns Pharmaceuticals were worth $113,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in Terns Pharmaceuticals in the third quarter worth $48,000. Simplicity Wealth LLC purchased a new stake in Terns Pharmaceuticals in the 2nd quarter valued at approximately $72,000. Bleakley Financial Group LLC increased its position in Terns Pharmaceuticals by 26.0% during the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after buying an additional 2,751 shares in the last quarter. Walleye Trading LLC acquired a new stake in shares of Terns Pharmaceuticals during the first quarter valued at $98,000. Finally, Kennedy Capital Management LLC purchased a new stake in Terns Pharmaceuticals during the 1st quarter worth about $101,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jill M. Quigley sold 17,235 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Jill M. Quigley sold 17,235 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $150,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at $1,011,340. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TERN shares. 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 report on Monday, September 16th. JMP Securities boosted their target price 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. Finally, Oppenheimer assumed coverage on Terns Pharmaceuticals in a research report on Thursday. They issued an “outperform” rating and a $82.00 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.92.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN opened at $6.86 on Friday. The stock has a 50-day simple moving average of $8.19 and a 200 day simple moving average of $7.29. Terns Pharmaceuticals, Inc. has a one year low of $3.26 and a one year high of $11.40. The company has a market capitalization of $482.50 million, a price-to-earnings ratio of -5.20 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. On average, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

About Terns Pharmaceuticals

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.