SG Americas Securities LLC Takes $199,000 Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

SG Americas Securities LLC purchased a new stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 23,810 shares of the company’s stock, valued at approximately $199,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Terns Pharmaceuticals by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after acquiring an additional 2,261 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Terns Pharmaceuticals by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock valued at $154,000 after acquiring an additional 5,049 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Terns Pharmaceuticals by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock valued at $437,000 after acquiring an additional 9,635 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of Terns Pharmaceuticals during the 2nd quarter valued at $72,000. Finally, Vanguard Group Inc. grew its holdings in shares of Terns Pharmaceuticals by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock valued at $14,425,000 after acquiring an additional 11,535 shares in the last quarter. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TERN. JMP Securities upped their price objective 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. BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 price objective (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.90.

Terns Pharmaceuticals Trading Up 3.6 %

Shares of NASDAQ:TERN opened at $7.50 on Wednesday. The stock has a market capitalization of $485.08 million, a PE ratio of -5.95 and a beta of -0.36. Terns Pharmaceuticals, Inc. has a 1 year low of $3.26 and a 1 year high of $11.40. The firm has a fifty day moving average price of $8.26 and a 200 day moving average price of $7.23.

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

Insider Buying and Selling at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares in the company, valued at $1,011,340. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Hongbo Lu acquired 476,190 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the transaction, the director now owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction 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. Insiders sold 33,378 shares of company stock worth $329,528 over the last ninety days. Company insiders own 15.10% of the company’s stock.

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.