The Manufacturers Life Insurance Company Has $551,000 Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

The Manufacturers Life Insurance Company grew its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 191.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,100 shares of the company’s stock after buying an additional 43,455 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Terns Pharmaceuticals worth $551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted 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 valued at $136,000 after purchasing an additional 2,261 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Terns Pharmaceuticals by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after purchasing an additional 64,018 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Terns Pharmaceuticals by 50.3% in the 2nd quarter. Rhumbline Advisers now owns 88,641 shares of the company’s stock valued at $604,000 after buying an additional 29,659 shares during the period. American Century Companies Inc. lifted its stake in Terns Pharmaceuticals by 17.7% in the second quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock valued at $437,000 after buying an additional 9,635 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Terns Pharmaceuticals by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock worth $2,534,000 after buying an additional 31,875 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Terns Pharmaceuticals

In related news, CEO Amy L. Burroughs purchased 15,450 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was purchased at an average cost of $7.15 per share, with a total value of $110,467.50. Following the completion of the acquisition, the chief executive officer now directly owns 19,099 shares of the company’s stock, valued at approximately $136,557.85. The trade was a 423.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Price Performance

Shares of TERN stock opened at $6.73 on Friday. The company has a market cap of $571.64 million, a P/E ratio of -5.70 and a beta of -0.36. Terns Pharmaceuticals, Inc. has a one year low of $4.32 and a one year high of $11.40. The firm has a 50-day moving average of $6.82 and a 200-day moving average of $7.54.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HC Wainwright reiterated a “neutral” rating and issued a $7.50 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. BMO Capital Markets reissued an “outperform” rating and set a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Finally, Oppenheimer lifted their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.