Nuveen Asset Management LLC Buys 617,009 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Nuveen Asset Management LLC grew its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 30.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,633,918 shares of the company’s stock after purchasing an additional 617,009 shares during the period. Nuveen Asset Management LLC owned approximately 3.10% of Terns Pharmaceuticals worth $14,592,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TERN. Candriam S.C.A. bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $11,933,000. Acorn Capital Advisors LLC bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $10,921,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Terns Pharmaceuticals by 44.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock valued at $26,323,000 after purchasing an additional 1,461,680 shares in the last quarter. Norges Bank bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $4,706,000. Finally, Boxer Capital Management LLC bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $4,166,000. Institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN opened at $3.02 on Monday. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40. The company’s 50-day simple moving average is $2.81 and its 200 day simple moving average is $4.30. The firm has a market capitalization of $263.76 million, a P/E ratio of -2.56 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. On average, equities research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. Finally, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.63.

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.