BNP Paribas Financial Markets Acquires New Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

BNP Paribas Financial Markets purchased a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 224,265 shares of the company's stock, valued at approximately $1,242,000. BNP Paribas Financial Markets owned about 0.26% of Terns Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC boosted its position in Terns Pharmaceuticals by 44.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company's stock worth $26,323,000 after acquiring an additional 1,461,680 shares during the last quarter. Vanguard Group Inc. boosted its position in Terns Pharmaceuticals by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock worth $21,437,000 after acquiring an additional 512,768 shares during the last quarter. Candriam S.C.A. acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $11,933,000. Acorn Capital Advisors LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $10,921,000. Finally, Geode Capital Management LLC boosted its position in Terns Pharmaceuticals by 25.6% during the 4th quarter. Geode Capital Management LLC now owns 1,516,478 shares of the company's stock worth $8,403,000 after acquiring an additional 308,999 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Up 9.4%

Shares of Terns Pharmaceuticals stock opened at $3.15 on Tuesday. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40. The stock has a market cap of $275.11 million, a P/E ratio of -2.67 and a beta of -0.16. The business's 50 day moving average is $2.83 and its 200-day moving average is $4.41.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.03. On average, sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analyst Ratings Changes

TERN has been the subject of a number of recent research reports. William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. BMO Capital Markets reduced their price target 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 reiterated a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.

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.

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