Nuveen LLC Takes Position in Terns Pharmaceuticals, Inc. $TERN

Key Points

• Nuveen LLC has acquired a new stake in Terns Pharmaceuticals, purchasing 1,405,901 shares valued at approximately $3,880,000, representing about 1.61% of the company.
• Analysts have lowered the price target for Terns Pharmaceuticals from $26.00 to $15.00, with an average rating of "Moderate Buy" and an average price target of $15.63.
• The stock has recently experienced a decline of 5.0%, trading at around $6.89, while the company holds a market capitalization of $602.94 million.

Nuveen LLC purchased a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,405,901 shares of the company's stock, valued at approximately $3,880,000. Nuveen LLC owned approximately 1.61% of Terns Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased its stake in 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 buying an additional 2,753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Terns Pharmaceuticals by 26.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company's stock valued at $220,000 after acquiring an additional 8,261 shares in the last quarter. ProShare Advisors LLC raised its stake in Terns Pharmaceuticals by 58.4% in the fourth quarter. ProShare Advisors LLC now owns 23,821 shares of the company's stock valued at $132,000 after buying an additional 8,784 shares in the last quarter. MetLife Investment Management LLC raised its stake in Terns Pharmaceuticals by 27.7% in the fourth quarter. MetLife Investment Management LLC now owns 43,760 shares of the company's stock valued at $242,000 after buying an additional 9,500 shares in the last quarter. Finally, Woodline Partners LP raised its stake in Terns Pharmaceuticals by 3.4% in the fourth quarter. Woodline Partners LP now owns 311,612 shares of the company's stock valued at $1,726,000 after buying an additional 10,388 shares in the last quarter. Hedge funds and other institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Performance

Shares of TERN stock traded up $0.60 during mid-day trading on Tuesday, hitting $7.56. 1,889,140 shares of the stock were exchanged, compared to its average volume of 1,090,611. The stock's fifty day simple moving average is $5.72 and its two-hundred day simple moving average is $4.07. The stock has a market capitalization of $661.58 million, a price-to-earnings ratio of -7.27 and a beta of -0.04. 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 released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. On average, research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Andrew Gengos acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average cost of $3.93 per share, for a total transaction of $39,300.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy L. Burroughs acquired 23,314 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were bought at an average price of $3.87 per share, with a total value of $90,225.18. Following the completion of the transaction, the chief executive officer directly owned 47,083 shares in the company, valued at approximately $182,211.21. The trade was a 98.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 48,314 shares of company stock valued at $186,575. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets cut 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. Three equities research 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 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.