Invesco Ltd. Has $161,000 Position 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. increased its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 149.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,345 shares of the company's stock after purchasing an additional 34,945 shares during the quarter. Invesco Ltd. owned 0.07% of Terns Pharmaceuticals worth $161,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Thrive Wealth Management LLC bought a new stake in Terns Pharmaceuticals in the first quarter valued at $29,000. Vontobel Holding Ltd. acquired a new position in Terns Pharmaceuticals during the first quarter worth about $39,000. Velan Capital Investment Management LP purchased a new position in Terns Pharmaceuticals in the 4th quarter worth about $94,000. Sherbrooke Park Advisers LLC purchased a new position in Terns Pharmaceuticals in the 4th quarter worth about $99,000. Finally, ProShare Advisors LLC increased its stake in Terns Pharmaceuticals by 58.4% in the 4th quarter. ProShare Advisors LLC now owns 23,821 shares of the company's stock worth $132,000 after purchasing an additional 8,784 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors.

Terns Pharmaceuticals Trading Down 2.8%

TERN stock traded down $0.21 during trading on Friday, hitting $7.23. The company had a trading volume of 1,872,404 shares, compared to its average volume of 1,106,887. The company has a fifty day moving average price of $6.25 and a two-hundred day moving average price of $4.26. The company has a market cap of $632.70 million, a P/E ratio of -6.95 and a beta of -0.04. Terns Pharmaceuticals, Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $10.70.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. On average, analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Insider Transactions at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Andrew Gengos acquired 10,000 shares of the stock in a transaction dated Friday, June 27th. The shares were bought at an average cost of $3.93 per share, for a total transaction of $39,300.00. Following the completion of the acquisition, the chief financial officer directly owned 25,000 shares of the company's stock, valued at approximately $98,250. This trade represents a 66.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amy L. Burroughs purchased 23,314 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was bought at an average price of $3.87 per share, with a total value of $90,225.18. Following the completion of the purchase, the chief executive officer owned 47,083 shares of the company's stock, valued at approximately $182,211.21. This represents a 98.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 38,314 shares of company stock valued at $149,275 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, HC Wainwright started coverage on Terns Pharmaceuticals in a research report on Thursday, September 4th. They set a "neutral" rating and a $7.44 price objective for the company. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $15.61.

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.