Nuveen Asset Management LLC Purchases 617,009 Shares of 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 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,633,918 shares of the company's stock after acquiring an additional 617,009 shares during the quarter. Nuveen Asset Management LLC owned about 3.10% of Terns Pharmaceuticals worth $14,592,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Landscape Capital Management L.L.C. acquired a new stake in Terns Pharmaceuticals during the fourth quarter valued at approximately $73,000. Townsquare Capital LLC bought a new position in shares of Terns Pharmaceuticals in the fourth quarter valued at $76,000. Oxford Asset Management LLP acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $86,000. Savant Capital LLC acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $89,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 worth $100,000 after acquiring an additional 4,475 shares in the last quarter. Institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Performance

Shares of TERN stock traded up $0.02 on Friday, reaching $3.12. 295,590 shares of the company's stock traded hands, compared to its average volume of 1,239,888. The company has a market capitalization of $272.05 million, a P/E ratio of -2.64 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's 50 day moving average price is $2.79 and its two-hundred day moving average price is $4.22.

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

Wall Street Analyst Weigh In

TERN has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. 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 report on Tuesday, May 13th. Finally, William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Terns Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $15.63.

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.