Acuta Capital Partners LLC Purchases 117,720 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Acuta Capital Partners LLC boosted its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 31.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,000 shares of the company’s stock after buying an additional 117,720 shares during the period. Terns Pharmaceuticals comprises 3.3% of Acuta Capital Partners LLC’s portfolio, making the stock its 11th largest holding. Acuta Capital Partners LLC’s holdings in Terns Pharmaceuticals were worth $4,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TERN. Charles Schwab Investment Management Inc. boosted its position in shares of Terns Pharmaceuticals by 1.3% during the 3rd 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. 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. Bleakley Financial Group LLC grew its stake in shares of Terns Pharmaceuticals by 26.0% in 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 period. The Manufacturers Life Insurance Company raised its holdings in shares of Terns Pharmaceuticals by 28.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,645 shares of the company’s stock worth $154,000 after buying an additional 5,049 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Terns Pharmaceuticals by 27.2% in the 3rd 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. Institutional investors own 98.26% of the company’s stock.

Insider Buying and Selling at Terns Pharmaceuticals

In other news, CFO Mark J. Vignola sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.00, for a total transaction of $110,000.00. Following the transaction, the chief financial officer now owns 91,940 shares of the company’s stock, valued at $1,011,340. This represents a 9.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hongbo Lu acquired 476,190 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $10.50 per share, with a total value of $4,999,995.00. Following the completion of the transaction, the director now owns 476,190 shares of the company’s stock, valued at approximately $4,999,995. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 15.10% of the company’s stock.

Analyst Upgrades and Downgrades

TERN has been the topic of several recent analyst reports. Oppenheimer assumed coverage on Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price target on the stock. HC Wainwright upped their target price on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. BMO Capital Markets reissued an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Finally, JMP Securities raised their price objective on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.70.

Terns Pharmaceuticals Stock Up 7.8 %

Shares of NASDAQ:TERN opened at $6.34 on Thursday. The firm has a market cap of $538.52 million, a P/E ratio of -5.37 and a beta of -0.32. Terns Pharmaceuticals, Inc. has a 12 month low of $3.86 and a 12 month high of $11.40. The company’s 50-day moving average price is $7.39 and its two-hundred day moving average price is $7.49.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.05. As a group, equities analysts predict that Terns Pharmaceuticals, Inc. will post -1.22 earnings per share for the current fiscal year.

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.