Northern Trust Corp Acquires 127,296 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Northern Trust Corp increased its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 591,171 shares of the company's stock after buying an additional 127,296 shares during the quarter. Northern Trust Corp owned about 0.70% of Terns Pharmaceuticals worth $3,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TERN. Invesco Ltd. boosted its position in shares of Terns Pharmaceuticals by 13.3% during the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company's stock worth $130,000 after acquiring an additional 2,753 shares in the last quarter. Corebridge Financial Inc. raised its stake in Terns Pharmaceuticals by 13.5% during the 4th quarter. Corebridge Financial Inc. now owns 34,951 shares of the company's stock valued at $194,000 after acquiring an additional 4,169 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Terns Pharmaceuticals by 33.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company's stock valued at $100,000 after acquiring an additional 4,475 shares during the last quarter. MetLife Investment Management LLC raised its stake in Terns Pharmaceuticals by 27.7% during the 4th quarter. MetLife Investment Management LLC now owns 43,760 shares of the company's stock valued at $242,000 after acquiring an additional 9,500 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Terns Pharmaceuticals by 40.0% during the 4th quarter. SG Americas Securities LLC now owns 33,333 shares of the company's stock worth $185,000 after buying an additional 9,523 shares in the last quarter. Hedge funds and other institutional investors own 98.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TERN shares. William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. JMP Securities reiterated a "market outperform" rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. Finally, BMO Capital Markets cut their price objective 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $15.63.

Terns Pharmaceuticals Trading Up 1.3%

Terns Pharmaceuticals stock traded up $0.04 during midday trading on Thursday, hitting $3.10. The stock had a trading volume of 515,842 shares, compared to its average volume of 1,527,713. The stock has a market cap of $270.74 million, a P/E ratio of -2.63 and a beta of -0.16. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The business has a fifty day moving average price of $2.79 and a 200 day moving average price of $4.22.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.03. On average, equities analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal 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.