Virtu Financial LLC Boosts Stock Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Virtu Financial LLC boosted its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 110.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,216 shares of the company’s stock after purchasing an additional 32,624 shares during the period. Virtu Financial LLC owned about 0.07% of Terns Pharmaceuticals worth $519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Terns Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after purchasing an additional 1,994 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Terns Pharmaceuticals by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock worth $136,000 after purchasing an additional 2,261 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Terns Pharmaceuticals by 26.0% in the third quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company’s stock worth $111,000 after purchasing an additional 2,751 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Terns Pharmaceuticals by 28.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after purchasing an additional 5,049 shares during the last quarter. Finally, Creative Planning boosted its position in Terns Pharmaceuticals by 27.2% in the third quarter. Creative Planning now owns 25,310 shares of the company’s stock worth $211,000 after purchasing an additional 5,409 shares during the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TERN shares. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. BMO Capital Markets reaffirmed an “outperform” rating and set a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, Oppenheimer upped their price target on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Terns Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $18.30.

Terns Pharmaceuticals Stock Performance

Shares of TERN opened at $6.73 on Monday. The stock’s 50-day simple moving average is $6.82 and its 200 day simple moving average is $7.54. The stock has a market capitalization of $571.65 million, a price-to-earnings ratio of -5.70 and a beta of -0.36. Terns Pharmaceuticals, Inc. has a 52-week low of $4.32 and a 52-week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. On average, research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs bought 15,450 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were acquired at an average cost of $7.15 per share, for a total transaction of $110,467.50. Following the purchase, the chief executive officer now directly owns 19,099 shares of the company’s stock, valued at $136,557.85. The trade was a 423.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.