Quantbot Technologies LP Has $1.01 Million Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Quantbot Technologies LP boosted its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 3,114.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,838 shares of the company's stock after buying an additional 117,079 shares during the period. Quantbot Technologies LP owned approximately 0.17% of Terns Pharmaceuticals worth $1,008,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TERN. Charles Schwab Investment Management Inc. grew 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 valued at $1,290,000 after acquiring an additional 1,994 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Terns Pharmaceuticals by 12.3% during the 1st 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 in the last quarter. Bleakley Financial Group LLC lifted its holdings in Terns Pharmaceuticals by 26.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,312 shares of the company's stock valued at $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 valued at $154,000 after buying an additional 5,049 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Terns Pharmaceuticals by 27.2% during the third quarter. Creative Planning now owns 25,310 shares of the company's stock worth $211,000 after buying an additional 5,409 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Terns Pharmaceuticals

In other news, Director Jill M. Quigley sold 17,235 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $150,000. This trade represents a 53.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark J. Vignola sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares of the company's stock, valued at approximately $1,011,340. The trade was a 9.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company's stock.

Terns Pharmaceuticals Stock Down 3.4 %

TERN traded down $0.21 during trading hours on Monday, hitting $6.03. 1,102,580 shares of the company's stock were exchanged, compared to its average volume of 1,291,992. The stock's 50-day moving average is $7.24 and its two-hundred day moving average is $7.51. Terns Pharmaceuticals, Inc. has a 1-year low of $4.32 and a 1-year high of $11.40. The stock has a market cap of $512.18 million, a price-to-earnings ratio of -5.29 and a beta of -0.32.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.05. On average, equities research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TERN shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. HC Wainwright upped their target price on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Oppenheimer initiated coverage on Terns Pharmaceuticals in a research note on Thursday, October 31st. They issued an "outperform" rating and a $82.00 price target for the company. Finally, JMP Securities raised their price target on Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.70.

Terns Pharmaceuticals 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.