Nuveen Asset Management LLC Has $14.59 Million Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Nuveen Asset Management LLC boosted its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 30.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,633,918 shares of the company's stock after acquiring an additional 617,009 shares during the period. Nuveen Asset Management LLC owned 3.10% of Terns Pharmaceuticals worth $14,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC raised its stake in Terns Pharmaceuticals by 44.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company's stock valued at $26,323,000 after acquiring an additional 1,461,680 shares during the period. Vanguard Group Inc. raised its stake in Terns Pharmaceuticals by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock valued at $21,437,000 after acquiring an additional 512,768 shares during the period. Candriam S.C.A. bought a new stake in Terns Pharmaceuticals in the 4th quarter valued at $11,933,000. Acorn Capital Advisors LLC bought a new stake in Terns Pharmaceuticals in the 4th quarter valued at $10,921,000. Finally, Geode Capital Management LLC raised its stake in Terns Pharmaceuticals by 25.6% in the 4th quarter. Geode Capital Management LLC now owns 1,516,478 shares of the company's stock valued at $8,403,000 after acquiring an additional 308,999 shares during the period. Institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Trading Up 1.7%

TERN stock traded up $0.05 during trading hours on Wednesday, hitting $3.06. 482,884 shares of the stock were exchanged, compared to its average volume of 1,527,391. The firm has a market capitalization of $267.25 million, a P/E ratio of -2.59 and a beta of -0.16. The company has a 50-day simple moving average of $2.80 and a two-hundred day simple moving average of $4.26. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.03. On average, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

TERN has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Finally, JMP Securities reiterated a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.63.

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.