Stoneridge Investment Partners LLC Acquires New Shares in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Stoneridge Investment Partners LLC bought a new position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,603 shares of the company’s stock, valued at approximately $114,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position 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 valued at $1,290,000 after acquiring an additional 1,994 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of 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 acquiring an additional 2,751 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock valued at $100,000 after acquiring an additional 4,475 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Terns Pharmaceuticals by 28.7% during 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 period. Finally, Creative Planning boosted its position in 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 purchasing an additional 5,409 shares during the period. 98.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, insider Emil Kuriakose sold 4,481 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total value of $25,586.51. Following the transaction, the insider now directly owns 54,269 shares in the company, valued at approximately $309,875.99. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark J. Vignola sold 8,129 shares of Terns Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total value of $46,497.88. Following the completion of the sale, the chief financial officer now owns 83,811 shares of the company’s stock, valued at approximately $479,398.92. The trade was a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 18,210 shares of company stock worth $124,571 and have sold 36,669 shares worth $211,040. 15.10% of the stock is owned by company insiders.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN opened at $4.48 on Friday. The company’s fifty day moving average is $5.44 and its 200-day moving average is $6.87. Terns Pharmaceuticals, Inc. has a 52 week low of $4.16 and a 52 week high of $11.40.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TERN. Oppenheimer boosted their target price on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. HC Wainwright reissued a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.30.

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.