Russell Investments Group Ltd. Purchases New Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Russell Investments Group Ltd. purchased a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 277,741 shares of the company's stock, valued at approximately $1,803,000. Russell Investments Group Ltd. owned about 0.45% of Terns Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. PEAK6 Investments LLC lifted its stake in Terns Pharmaceuticals by 35.5% during the 3rd quarter. PEAK6 Investments LLC now owns 19,097 shares of the company's stock valued at $96,000 after acquiring an additional 5,000 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Terns Pharmaceuticals by 358.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,147 shares of the company's stock worth $46,000 after purchasing an additional 5,587 shares during the period. Simplicity Solutions LLC purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $68,000. Bleakley Financial Group LLC acquired a new position in shares of Terns Pharmaceuticals in the 4th quarter valued at about $68,000. Finally, Pale Fire Capital SE purchased a new stake in shares of Terns Pharmaceuticals in the third quarter worth about $76,000. Hedge funds and other institutional investors own 98.26% of the company's stock.

Insider Transactions at Terns Pharmaceuticals

In other news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the firm's stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total value of $856,009.20. Following the completion of the transaction, the insider now owns 268,573 shares of the company's stock, valued at $1,665,152.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 17.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HC Wainwright reissued a "neutral" rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a report on Tuesday. UBS Group lowered their price target on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, March 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $15.00 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. Finally, BMO Capital Markets upped their target price on Terns Pharmaceuticals from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Friday, March 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.94.

Terns Pharmaceuticals Trading Up 2.5 %

NASDAQ TERN traded up $0.15 on Thursday, reaching $6.14. 774,422 shares of the company were exchanged, compared to its average volume of 851,873. The business's fifty day moving average price is $5.85 and its 200 day moving average price is $5.87. The stock has a market capitalization of $397.12 million, a P/E ratio of -4.87 and a beta of -0.49. Terns Pharmaceuticals, Inc. has a fifty-two week low of $3.26 and a fifty-two week high of $13.03.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.29). Equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.46 earnings per share for the current year.

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.