Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC raised its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 40.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,003,263 shares of the company’s stock after acquiring an additional 578,500 shares during the period. Janus Henderson Group PLC owned approximately 3.10% of Terns Pharmaceuticals worth $13,131,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TERN. Decheng Capital LLC purchased a new stake in shares of Terns Pharmaceuticals in the 4th quarter valued at approximately $4,636,000. Great Point Partners LLC grew its stake in shares of Terns Pharmaceuticals by 102.8% in the 4th quarter. Great Point Partners LLC now owns 1,309,975 shares of the company’s stock valued at $8,502,000 after buying an additional 664,076 shares during the period. Affinity Asset Advisors LLC grew its stake in shares of Terns Pharmaceuticals by 581.8% in the 1st quarter. Affinity Asset Advisors LLC now owns 450,000 shares of the company’s stock valued at $2,952,000 after buying an additional 384,000 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Terns Pharmaceuticals by 127.9% during the 1st quarter. Russell Investments Group Ltd. now owns 632,965 shares of the company’s stock worth $4,152,000 after purchasing an additional 355,224 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Terns Pharmaceuticals by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 2,307,834 shares of the company’s stock worth $14,978,000 after purchasing an additional 159,013 shares during the period. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Insider Activity

In other news, Director Carl L. Gordon sold 50,976 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $10.00, for a total value of $509,760.00. Following the sale, the director now directly owns 756,258 shares in the company, valued at approximately $7,562,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Stock Up 0.3 %

Shares of TERN stock opened at $7.77 on Friday. Terns Pharmaceuticals, Inc. has a 52 week low of $3.26 and a 52 week high of $10.03. The firm has a 50 day moving average of $7.55 and a two-hundred day moving average of $6.61. The stock has a market capitalization of $502.56 million, a PE ratio of -6.17 and a beta of -0.37.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. Analysts expect that Terns Pharmaceuticals, Inc. will post -1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TERN. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday, April 30th. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 price objective on shares of Terns Pharmaceuticals in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

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.