OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 192.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,300 shares of the company's stock after acquiring an additional 92,300 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.17% of Terns Pharmaceuticals worth $777,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Terns Pharmaceuticals by 26.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company's stock valued at $220,000 after purchasing an additional 8,261 shares in the last quarter. Integral Health Asset Management LLC increased its holdings in shares of Terns Pharmaceuticals by 50.0% during the fourth quarter. Integral Health Asset Management LLC now owns 450,000 shares of the company's stock worth $2,493,000 after purchasing an additional 150,000 shares during the period. J. Goldman & Co LP raised its position in Terns Pharmaceuticals by 15.6% during the fourth quarter. J. Goldman & Co LP now owns 235,831 shares of the company's stock valued at $1,307,000 after purchasing an additional 31,890 shares in the last quarter. Graham Capital Management L.P. increased its holdings in shares of Terns Pharmaceuticals by 897.1% during the fourth quarter. Graham Capital Management L.P. now owns 132,999 shares of the company's stock worth $737,000 after buying an additional 119,661 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Terns Pharmaceuticals by 53.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 57,341 shares of the company's stock worth $318,000 after purchasing an additional 19,870 shares during the last quarter. Institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock traded up $0.16 during midday trading on Monday, hitting $3.04. 324,712 shares of the company's stock were exchanged, compared to its average volume of 1,530,602. The company has a market cap of $265.33 million, a PE ratio of -2.56 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 firm has a 50-day moving average of $2.84 and a two-hundred day moving average of $4.44.

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 for the quarter, beating the consensus estimate of ($0.29) by $0.03. As a group, equities analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TERN shares. William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Finally, BMO Capital Markets decreased their target price 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $15.63.

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.