Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE lifted its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 236.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 197,226 shares of the company's stock after buying an additional 138,661 shares during the quarter. Bank of America Corp DE owned approximately 0.23% of Terns Pharmaceuticals worth $1,093,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in Terns Pharmaceuticals by 13.3% during the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company's stock worth $130,000 after buying an additional 2,753 shares during the period. Corebridge Financial Inc. boosted its position in Terns Pharmaceuticals by 13.5% in the 4th quarter. Corebridge Financial Inc. now owns 34,951 shares of the company's stock valued at $194,000 after buying an additional 4,169 shares during the period. MetLife Investment Management LLC grew its stake in shares of Terns Pharmaceuticals by 27.7% in the fourth quarter. MetLife Investment Management LLC now owns 43,760 shares of the company's stock worth $242,000 after acquiring an additional 9,500 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Terns Pharmaceuticals by 40.0% during the fourth quarter. SG Americas Securities LLC now owns 33,333 shares of the company's stock worth $185,000 after acquiring an additional 9,523 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth $73,000. Institutional investors and hedge funds own 98.26% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on TERN. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. BMO Capital Markets lowered their price objective on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, JMP Securities restated a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.63.

Terns Pharmaceuticals Stock Up 9.4%

Terns Pharmaceuticals stock traded up $0.35 during midday trading on Tuesday, reaching $4.06. The company's stock had a trading volume of 2,018,280 shares, compared to its average volume of 1,513,942. The company has a market cap of $354.59 million, a P/E ratio of -3.44 and a beta of -0.18. The business has a 50-day simple moving average of $2.90 and a 200-day simple moving average of $4.06. Terns Pharmaceuticals, Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.03. As a group, equities analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

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.