Jacobs Levy Equity Management Inc. Buys New Stake in Terns Pharmaceuticals, Inc. $TERN

Key Points

• Jacobs Levy Equity Management Inc. purchased a new stake of 494,877 shares in Terns Pharmaceuticals, valued at approximately $1.37 million, marking the firm's entry into the stock.
• The stock has seen significant interest from other investors, with Northern Trust Corp increasing their holdings by 27.4%, while Graham Capital Management L.P. boosted theirs by 897.1% during the 4th quarter.
• Terns Pharmaceuticals received a "neutral" rating from HC Wainwright with a price target of $7.44, while the consensus target price remains at $15.61 according to analyst ratings.

Jacobs Levy Equity Management Inc. bought a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 494,877 shares of the company's stock, valued at approximately $1,366,000. Jacobs Levy Equity Management Inc. owned about 0.57% of Terns Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp boosted its holdings in Terns Pharmaceuticals by 27.4% in the 4th quarter. Northern Trust Corp now owns 591,171 shares of the company's stock valued at $3,275,000 after purchasing an additional 127,296 shares during the period. BNP Paribas Financial Markets bought a new stake in Terns Pharmaceuticals in the 4th quarter valued at $1,242,000. Bank of America Corp DE boosted its holdings in Terns Pharmaceuticals by 236.8% in the 4th quarter. Bank of America Corp DE now owns 197,226 shares of the company's stock valued at $1,093,000 after purchasing an additional 138,661 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Terns Pharmaceuticals by 53.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 57,341 shares of the company's stock valued at $318,000 after purchasing an additional 19,870 shares during the period. Finally, Graham Capital Management L.P. boosted its holdings in Terns Pharmaceuticals by 897.1% in the 4th quarter. Graham Capital Management L.P. now owns 132,999 shares of the company's stock valued at $737,000 after purchasing an additional 119,661 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Terns Pharmaceuticals

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

Wall Street Analyst Weigh In

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

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN opened at $7.44 on Friday. The company has a 50-day moving average of $6.19 and a 200-day moving average of $4.23. The company has a market capitalization of $651.07 million, a price-to-earnings ratio of -7.15 and a beta of -0.04. Terns Pharmaceuticals, Inc. has a 52 week low of $1.87 and a 52 week high of $11.00.

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 analysts' consensus estimates of ($0.28) by $0.02. Sell-side analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current 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.

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