Wellington Management Group LLP Acquires 98,649 Shares of Terns Pharmaceuticals, Inc. $TERN

Key Points

• Wellington Management Group LLP has increased its stake in Terns Pharmaceuticals by 44.3% in the first quarter, now owning approximately 0.37% of the company valued at $886,000.
• Several institutional investors, including Nuveen LLC and SG Americas Securities LLC, have also significantly increased their investments in Terns Pharmaceuticals during the same period.
• Insider trading activity includes CFO Andrew Gengos and CEO Amy L. Burroughs purchasing shares, with the CFO's stake increasing by 66.67% and the CEO's by 98.09%.

Wellington Management Group LLP boosted its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 44.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,163 shares of the company's stock after buying an additional 98,649 shares during the quarter. Wellington Management Group LLP owned approximately 0.37% of Terns Pharmaceuticals worth $886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Soleus Capital Management L.P. raised its position in shares of Terns Pharmaceuticals by 30.8% during the fourth quarter. Soleus Capital Management L.P. now owns 8,142,500 shares of the company's stock worth $45,109,000 after purchasing an additional 1,918,956 shares during the period. Nuveen Asset Management LLC grew its stake in Terns Pharmaceuticals by 30.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,633,918 shares of the company's stock valued at $14,592,000 after purchasing an additional 617,009 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Terns Pharmaceuticals by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,504,238 shares of the company's stock valued at $8,335,000 after acquiring an additional 28,559 shares during the period. Nuveen LLC bought a new stake in shares of Terns Pharmaceuticals in the 1st quarter worth approximately $3,880,000. Finally, Dimensional Fund Advisors LP grew its holdings in Terns Pharmaceuticals by 107.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,302,932 shares of the company's stock valued at $7,218,000 after purchasing an additional 673,570 shares during the period. Institutional investors and hedge funds own 98.26% of the company's stock.

Insider Buying and Selling

In related news, CEO Amy L. Burroughs bought 23,314 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was acquired at an average cost of $3.87 per share, with a total value of $90,225.18. Following the transaction, the chief executive officer directly owned 47,083 shares in the company, valued at approximately $182,211.21. This trade represents a 98.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Gengos bought 10,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average cost of $3.93 per share, with a total value of $39,300.00. Following the purchase, the chief financial officer directly owned 25,000 shares of the company's stock, valued at $98,250. The trade was a 66.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 48,314 shares of company stock valued at $186,575. 1.50% of the stock is owned by company insiders.

Terns Pharmaceuticals Stock Performance

TERN traded down $0.58 during midday trading on Thursday, reaching $6.87. 781,630 shares of the company were exchanged, compared to its average volume of 1,161,928. The stock has a market capitalization of $600.76 million, a P/E ratio of -6.60 and a beta of -0.04. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40. The stock's 50-day simple moving average is $5.78 and its 200 day simple moving average is $4.09.

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 for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. On average, research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets cut their price objective on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. HC Wainwright started coverage on shares of Terns Pharmaceuticals in a research report on Thursday. They set a "neutral" rating and a $7.44 price target for the company. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.61.

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.