Invesco Ltd. Raises Holdings in Terns Pharmaceuticals, Inc. $TERN

Key Points

• Invesco Ltd. increased its stake in Terns Pharmaceuticals by 149.3% during the first quarter, owning approximately 58,345 shares valued at $161,000.
• CEO Amy L. Burroughs and CFO Andrew Gengos both made significant insider purchases, increasing their ownership by 98.09% and 66.67%, respectively.
• Analysts currently have a consensus rating of Moderate Buy for Terns Pharmaceuticals, with a target price averaging $15.61 after recent coverage from several firms.

Invesco Ltd. lifted its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 149.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 58,345 shares of the company's stock after acquiring an additional 34,945 shares during the period. Invesco Ltd. owned approximately 0.07% of Terns Pharmaceuticals worth $161,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vontobel Holding Ltd. purchased a new stake in shares of Terns Pharmaceuticals during the first quarter worth about $39,000. SG Americas Securities LLC grew its stake in shares of Terns Pharmaceuticals by 1,141.5% during the first quarter. SG Americas Securities LLC now owns 413,822 shares of the company's stock worth $1,142,000 after acquiring an additional 380,489 shares during the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of Terns Pharmaceuticals by 27.4% during the first quarter. E. Ohman J or Asset Management AB now owns 102,410 shares of the company's stock worth $283,000 after acquiring an additional 22,032 shares during the last quarter. Thrive Wealth Management LLC purchased a new stake in shares of Terns Pharmaceuticals during the first quarter worth about $29,000. Finally, Infinitum Asset Management LLC purchased a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth about $1,108,000. Hedge funds and other institutional investors own 98.26% of the company's stock.

Insider Buying and Selling

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs bought 23,314 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average price of $3.87 per share, for a total transaction of $90,225.18. Following the transaction, the chief executive officer directly owned 47,083 shares of the company's stock, valued at approximately $182,211.21. This represents a 98.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andrew Gengos bought 10,000 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were acquired at an average price of $3.93 per share, for a total transaction of $39,300.00. Following the transaction, the chief financial officer directly owned 25,000 shares in the company, valued at approximately $98,250. This represents a 66.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 48,314 shares of company stock worth $186,575 in the last quarter. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

TERN has been the topic of a number of recent research reports. HC Wainwright initiated coverage on Terns Pharmaceuticals in a research report on Thursday, September 4th. They issued a "neutral" rating and a $7.44 target price on the stock. BMO Capital Markets dropped their target price on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.61.

Terns Pharmaceuticals Trading Up 0.8%

Terns Pharmaceuticals stock opened at $7.28 on Tuesday. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The stock's 50 day simple moving average is $5.98 and its two-hundred day simple moving average is $4.16. The firm has a market cap of $637.07 million, a PE ratio of -7.00 and a beta of -0.04.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.02. On average, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current 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.

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