China Universal Asset Management Co. Ltd. Boosts Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

China Universal Asset Management Co. Ltd. boosted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 33.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 18,010 shares of the company’s stock after buying an additional 4,475 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Terns Pharmaceuticals were worth $100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Telemark Asset Management LLC purchased a new position in Terns Pharmaceuticals during the third quarter worth $2,502,000. Charles Schwab Investment Management Inc. boosted its stake in Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock worth $1,290,000 after buying an additional 1,994 shares during the period. Quest Partners LLC purchased a new position in Terns Pharmaceuticals during the third quarter worth $872,000. Renaissance Technologies LLC purchased a new stake in shares of Terns Pharmaceuticals during the second quarter valued at $596,000. Finally, Bellevue Group AG purchased a new stake in shares of Terns Pharmaceuticals during the third quarter valued at $8,691,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Terns Pharmaceuticals

In other news, CEO Amy L. Burroughs bought 15,450 shares of Terns Pharmaceuticals stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $7.15 per share, for a total transaction of $110,467.50. Following the completion of the acquisition, the chief executive officer now owns 19,099 shares of the company’s stock, valued at $136,557.85. This trade represents a 423.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Emil Kuriakose sold 4,481 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the transaction, the insider now owns 54,269 shares of the company’s stock, valued at $309,875.99. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 18,210 shares of company stock worth $124,571 and sold 36,669 shares worth $211,040. 15.10% of the stock is currently owned by corporate insiders.

Terns Pharmaceuticals Price Performance

TERN stock opened at $4.37 on Tuesday. The business has a 50-day moving average price of $5.57 and a 200 day moving average price of $6.98. The company has a market capitalization of $371.19 million, a P/E ratio of -3.70 and a beta of -0.34. Terns Pharmaceuticals, Inc. has a 1-year low of $4.16 and a 1-year high of $11.40.

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

Analyst Upgrades and Downgrades

TERN has been the subject of a number of recent analyst reports. Oppenheimer boosted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, HC Wainwright reissued a “neutral” rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

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.