Creative Planning Grows Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Creative Planning raised its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 27.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,310 shares of the company’s stock after acquiring an additional 5,409 shares during the period. Creative Planning’s holdings in Terns Pharmaceuticals were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in Terns Pharmaceuticals by 40.6% during the first quarter. Janus Henderson Group PLC now owns 2,003,263 shares of the company’s stock valued at $13,131,000 after purchasing an additional 578,500 shares in the last quarter. Bank of New York Mellon Corp raised its position 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. Russell Investments Group Ltd. grew its position in Terns Pharmaceuticals by 127.9% in the first quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after acquiring an additional 355,224 shares in the last quarter. Point72 Asset Management L.P. grew its position in Terns Pharmaceuticals by 21.1% in 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. Finally, Vanguard Group Inc. increased its stake in Terns Pharmaceuticals by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after acquiring an additional 11,535 shares during the last quarter. 98.26% of the stock is currently owned by institutional investors.

Terns Pharmaceuticals Price Performance

TERN stock opened at $7.30 on Monday. Terns Pharmaceuticals, Inc. has a 1-year low of $3.26 and a 1-year high of $11.40. The business has a 50-day moving average price of $8.10 and a 200 day moving average price of $7.43. The company has a market capitalization of $513.48 million, a P/E ratio of -5.53 and a beta of -0.32.

Insider Buying and Selling

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total transaction of $110,000.00. Following the sale, the chief financial officer now owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Terns Pharmaceuticals news, Director Hongbo Lu acquired 476,190 shares of the stock in a transaction dated Thursday, September 12th. The stock was purchased at an average price of $10.50 per share, with a total value of $4,999,995.00. Following the transaction, the director now directly owns 476,190 shares of the company’s stock, valued at $4,999,995. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark J. Vignola sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on TERN. 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 report on Monday, September 16th. Oppenheimer started coverage on shares of Terns Pharmaceuticals in a research report on Thursday, October 31st. They set an “outperform” rating and a $82.00 price objective on the stock. Finally, JMP Securities raised their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Terns Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $26.92.

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.