Kennedy Capital Management LLC Takes Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Kennedy Capital Management LLC bought a new position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,466 shares of the company’s stock, valued at approximately $101,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Terns Pharmaceuticals by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after acquiring an additional 2,261 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Terns Pharmaceuticals by 66.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,889 shares of the company’s stock valued at $78,000 after buying an additional 4,742 shares during the period. AJOVista LLC acquired a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth $58,000. Simplicity Solutions LLC bought a new stake in Terns Pharmaceuticals in the 4th quarter valued at $68,000. Finally, Bleakley Financial Group LLC bought a new position in Terns Pharmaceuticals during the 4th quarter worth about $68,000. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Price Performance

Terns Pharmaceuticals stock opened at $7.77 on Friday. Terns Pharmaceuticals, Inc. has a twelve month low of $3.26 and a twelve month high of $10.03. The company’s 50-day moving average price is $7.55 and its two-hundred day moving average price is $6.61.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Monday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. On average, analysts forecast that Terns Pharmaceuticals, Inc. will post -1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $15.00 price objective on shares of Terns Pharmaceuticals in a report on Tuesday, April 30th. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price target on shares of Terns Pharmaceuticals in a research note on Tuesday, May 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Insider Transactions at Terns Pharmaceuticals

In other news, Director Carl L. Gordon sold 50,976 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $10.00, for a total value of $509,760.00. Following the completion of the transaction, the director now directly owns 756,258 shares in the company, valued at approximately $7,562,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.10% of the stock is currently owned by insiders.

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.